posted by Thom Holwerda on Sat 9th Feb 2008 19:10 UTC
IconYahoo Inc's board believes Microsoft Corp's unsolicited bid of USD 44.6 billion to acquire Yahoo 'massively undervalues' the company and directors are set to reject the offer, the Wall Street Journal reported on Saturday, citing an unnamed source. Microsoft's USD 31 per share offer fails to take account of the risks that a merger between the world's largest software maker and Yahoo would be rejected by regulators, the paper reported, citing 'a person familiar with the situation'. A spokeswoman for Yahoo, a diversified Internet media company, declined to comment on the proceedings of the company's board of directors.
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