Yahoo to Reject Microsoft Bid

Yahoo’s board plans to reject Microsoft’s unsolicited $US44.6 billion offer to acquire the web giant. After a series of meetings over the past week, Yahoo’s board determined that the $US31 per share offer massively undervalues Yahoo. It also doesn’t account for the risks Yahoo would be taking by entering into an agreement that might be overturned by regulators. The board plans to send a letter to Microsoft Monday in the US, spelling out its position