- Steve Jobs is a man of a few words
- Internet routing blasts into space
- 15 free downloads to pep up your old PC
- IBM smartphone software translates 11 languages
- New attack fells Internet Explorer
Confirming weekend rumors, Yahoo rejected on Monday Microsoft's US$44.6 billion cash-and-stock offer, saying the unsolicited proposal substantially undervalues the company.
In a statement, Yahoo said that its management team, along with financial and legal advisors, believe the offer doesn't reflect cash flow, earnings potential, or recent investments in its advertising platform.
Further, Yahoo said its board would continue to evaluate other "strategic options."
"We remain committed to pursuing initiatives that maximize value for all stockholders," the statement said.
Microsoft offered $31 per share on Feb. 1, which was a 62 percent premium over Yahoo's closing price the day before. Since then, Yahoo's stock has risen in value and was trading just above $29 on Monday morning.
Yahoo's executives were rumored to have been searching for a buyer other than Microsoft. However, no buyer has emerged. Yahoo's latest moves mean that Microsoft may have make a more generous offer, or pursue a hostile takeover.
Microsoft said it believes the acquisition of Yahoo would give it the engineering talent and resources to compete better with Google. While Microsoft and Yahoo have had some success with display advertising, Google has built a fortune on contextual text ads that appear during a search.
Partner Content
www.bmc.com
Gartner 2009 Magic Quadrant for Job Scheduling
Gartner has positioned BMC CONTROL-M in the Leaders Quadrant of their "2009 Magic Quadrant for Job Scheduling." The report assesses the ability to execute and completeness of vision of key vendors in the marketplace. Read a full copy today, courtesy of BMC Software.
Download whitepaper
Dell's SMART Approach to Workload Automation
Read a compelling case study by EMA, Inc. to learn how Dell uses BMC CONTROL-M to cut cost and increase productivity with workload automation.
Download whitepaper
Workload Automation Cost Savings 2 Minute Video
A major computer manufacturer uses BMC CONTROL-M and just four people to schedule and run over 85,000 jobs every month. By switching to BMC CONTROL-M, they more than quadrupled the workload without adding a single staff member. See how in this 2-minute video overview.
Go to video
Comments (1)
Yahoo says Microsoft offer undervalues companyBy Microsoft Subnet on February 11, 2008, 11:56 amSo, Yahoo says no. Most analysts say we won't hear the end of this yet. How high will Microsoft to to buy Yahoo? Some estimate that the next offer could be about...
Reply | Read entire comment
View all comments