Yahoo to say no to Microsoft
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Reports emerged over the weekend that Yahoo will not accept Microsoft's $44.6 billion takeover bid.
More details will be revealed sometime today, but Yahoo claims the bid "massively undervalues" Yahoo. Analysts have said that the Yahoo board must reject the offer as a duty to their shareholders.
Other speculations suggest that Microsoft is prepared to up the bid from $31/share to as high as $35/share. If this doesn't go through Microsoft can still open talks with the shareholders, bypassing the board of directors all together.
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