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Article: Investors awaiting Microsoft's next move for Yahoo.(Wire Business)(The software maker, however, maintains that its initial bid was "full and fair")
- Article from:
- The Register Guard (Eugene, OR)
- Article date:
- February 12, 2008
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Byline: Michael Liedtke The Associated Press
SAN FRANCISCO - Yahoo Inc.'s rejection of Microsoft Corp.'s un-solicited takeover bid left investors guessing the next move in a tense mating dance that may hatch a more imposing challenger to Google Inc. or disintegrate into a brawl.
The rebuff, formally announced early Monday, wasn't a surprise because Yahoo had leaked its intention over the weekend.
As expected, Yahoo's board unanimously decided to spurn Microsoft after concluding that the offer - originally worth $44.6 billion or $31 per share - "substantially undervalues" one of the Internet's prized franchises. The cash-and-stock deal is now ...