Sunday, July 13, 2008

Yahoo Again Spurns a Microsoft Offer - NYTimes.com

The ritual continues...

“It is ludicrous to think that our board could accept such a proposal,” Yahoo’s chairman, Roy Bostock, said in a statement. “While this type of erratic and unpredictable behavior is consistent with what we have come to expect from Microsoft, we will not be bludgeoned into a transaction that is not in the best interests of our stockholders.”

Yahoo reiterated that it was open to a sale of the whole company at $33 a share, a price that Microsoft had once offered but in recent weeks has spurned. It also said it would accept a sale of its search business, but on better terms.

Yahoo Again Spurns a Microsoft Offer - NYTimes.com

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