Yahoo! has formally rejected Microsoft’s bid to acquire the search engine giant. Yahoo says that the $31 per share offer of Microsoft is inadequate, and wants $40 per share.
“The proposal is not in the best interests of Yahoo and our stockholders” in an issued statement from the company. Financialy analysts are now speculating that Microsoft will make a new offer that is 5 to 12 billion higher the previous offer to lure Yahoo into selling.
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