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Official: Yahoo says 'No' to Microsoft
>> From gamesindustry.biz:
[QUOTE]
Yahoo has formally rejected Microsoft's USD 44.6 billion takeover bid.
In a statement, Yahoo said that its board "unanimously concluded that the proposal is not in the best interests of Yahoo and our stockholders." Yahoo also said that the offer substantially undervalues the company, failing to take into account its strong brand and global audience.
"The board of directors is continually evaluating all of its strategic options in the context of the rapidly evolving industry environment and we remain committed to pursuing initiatives that maximize value for all stockholders," the statement read.
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Full Story: gamesindustry.biz
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