According to the Wall Street Journal, Yahoo’s board will be declining Microsoft’s offer of $44.6 billion USD.
Yahoo will be sending their decision to Microsoft on Monday. Microsoft’s offer equates to $31 a share, and according to the Wall Street Journal’s source, Yahoo is looking for an offer of $40 a share or greater. The initial offer by Microsoft was valued at 62% greater than the worth of Yahoo’s stock, and now they reportedly will tell Microsoft that they want at least 30% more than the original offer.
This is just the beginning, and it will be interesting to see how negotiations between Microsoft and Yahoo’s board develop. Will Microsoft come back with a higher bid, or will a hostile takeover ensue?
