Yahoo to Reject Microsoft Bid

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Yahoo to Reject Microsoft Bid

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By Eric Vessels Published: February 9, 2008

(Fortune) -- Yahoo plans to reject Microsoft's $44.6 billion takeover bid, the Wall Street Journal reported Saturday, citing a person familiar with the situation.

The source, according to the paper, said Yahoo's board believes Microsoft's offer of $31 per share "massively undervalues" the company and does not account for the risk that a deal could be blocked by regulators.

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