Yahoo officially turns down Microsoft acquisition offer (UPDATED)

Posted on February 11, 2008 by Dan

As expected, the Yahoo! board has officially turned down Microsoft’s $44.6 billion acquisition offer.

Yahoo’s board of directors voted unanimously to reject the offer, saying it “substantially undervalues” the company’s worth.

No response as of yet from Microsoft about the decision.

UPDATE: British newspaper The Times is reporting that Yahoo is in talks with US investment banks Goldman Sachs and Lehman Brothers to help search for partnerships that may block the Microsoft acquisition. One possible partnership would be with AOL.

[Via Electronista]

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One Response to “Yahoo officially turns down Microsoft acquisition offer (UPDATED)”

  1. Yahoo facing 7 lawsuits (so far) over Microsoft bid « Dan’s Tech-n-Stuff Weblog, on February 28th, 2008 at 1:18 am Said:

    [...] facing 7 lawsuits (so far) over Microsoft bid Posted on February 28, 2008 by Dan When Yahoo turned down Microsoft’s acquisition bid a couple weeks ago it was just a matter of time before disgruntled stock holders decided to sue [...]

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