encyclo - 8:13 pm on Feb 9, 2008 (gmt 0)

Report: Yahoo board plans to turn down Microsoft bid [theglobeandmail.com]

Yahoo Inc's board believes Microsoft Corp's unsolicited bid of $44.6-billion to acquire Yahoo "massively undervalues" the company and directors are set to reject the offer, the Wall Street Journal reported on Saturday, citing an unnamed source. The Journal quoted the unnamed source as saying Microsoft's offer amounted to an attempt to "steal" the company and that Yahoo is unlikely to consider any offer under $40 per share.