"Yahoo rejects Microsoft buyout offer as undervalued"
http://news.yahoo.com/s/afp/20080211/ts_afp/usitcompanytakeovermicrosoftyaho...
Also: http://tinyurl.com/yoohur
=====
" 'After careful evaluation, the board believes that Microsoft's proposal substantially undervalues Yahoo including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments,' Yahoo said in a statement."
"As a result, the board 'concluded that the proposal is not in the best interests of Yahoo and our stockholders.' "
=====
"Wording of the rejection by Yahoo suggests that the company is holding out for a better price, and guarding against potential lawsuits from stockholders, according to analysts."
" 'Right now they are haggling,' Silicon Valley analyst Rob Enderle told AFP. 'Yahoo is not saying no at any price. They are saying the Microsoft offer is not strong enough.' "
"It is common for companies to rebuff initial buyout offers and hold out for sweeter deals."
=====
"But Yahoo chief executive Jerry Yang sent a message to employees last week, assuring them the firm's leaders were exploring ways to avoid a Microsoft takeover."
=====
____________________________________________________________________________________ Looking for last minute shopping deals? Find them fast with Yahoo! Search. http://tools.search.yahoo.com/newsearch/category.php?category=shopping