'Microhoo' May Not Happen
February 10, 2008
| 11:45 AM
Congressional antitrust crusaders might be able to cool their jets for a while. The Wall Street Journal reported Saturday that Yahoo's board of directors plans to reject Microsoft's unsolicited $44.6 billion acquisition offer. The decision apparently came after a series of meetings during which Yahoo's board decided the offer "massively undervalues" the Web firm.
The Journal cited an unnamed person familiar with the deal. Similar reports appeared later in the New York Times and the Washington Post. A letter from the Yahoo board formally rejecting the deal is expected to be issued Monday, the Post reported in its Sunday edition.
Categories:
Antitrust
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