Yahoo rejects Microsoft’s bid. Wants much more than $44.6 billion
It was an expected reaction — Yahoo has officially rejected Microsoft’s takeover bid. The Redmond giant had valued Yahoo at $44.6 billion or $31 per share, but Yahoo chief thinks that the internet pioneer is much more valuable. So the road ahead? Most probably MS will soften its stand, but if Yahoo rejects the new offer — which could be $40+ per share — then Microsoft could attempt a hostile takeover.
According to WSJ, even Microsoft is not too keen on a hostile takeover as a fight could increase the odds that key Yahoo employees will leave the company. It understands that the cooperation of Yahoo’s rank-and-file engineers and other employees is very important for company’s success, so the hostile takeover option is less likely (but it could not be ruled out).
[Via WSJ]
