Monday, July 14, 2008
Yahoo reject Microsoft latest offer.
After five hours discussion at a meeting Saturday morning , Yahoo board of directors vigorously rejected Microsoft latest offer made Friday. The offer contained a proposal letting Microsoft buy Yahoo search business and give activist investor Carl Icahn and his chosen board , control of the rest of the company. In its reject ,Yahoo board called the proposal "ludicrous and the product of an opportunistic alliance between Mr Icahn and Microsoft that undervalued Yahoo assets."
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