Yahoo to reject Microsoft bid

An article posted today one The Wall Street Journal online, citing an unnamed source which is closely familiar with the situation, states that Yahoo's board has decided to reject Microsoft's $44.6Bi bid for acquiring the company.

This same source is said to have indicated that the board would not be prepared to consider any offer under $40 per share. Microsoft's bid was of $31 per share which was considered to be massively undervalued. If Microsoft is really after Yahoo with and decides to meet such a value, it would mean upping what is already a huge bid by more than $10Bi.