For the second time, Microsoft has become a jilted suitor. On Monday morning, Yahoo rejected Microsoft's offer to take over the company, despite a pointed letter on Saturday from Microsoft's chief executive, Steven Ballmer. "Our board's view of your proposal has not changed," Yahoo said in a statement. "We continue to believe that your proposal is not in the best interests of Yahoo and our stockholders." Yahoo turned down the offer again after it received Ballmer's letter on Saturday that threatened to lower the price of its buyout offer, which would be made directly to Yahoo shareholders.
For more on this takeover battle:
- See this New York Times article [1]
Links:
[1] http://www.nytimes.com/2008/04/07/technology/07cnd-soft.html?_r=1&hp&oref=slogin