Yahoo! Says No To Microsoft

Well, well, well! It seems the little Yahoo! that could still has some spunk in it! Today, Yahoo! announced that they will NOT be accepting Microsoft's bid for the formally formidable web-portal, instead opting to keep its options open to other buyers.

This, of course, does not mean this is at all over. Remember, Microsoft's bid was unsolicited, meaning Yahoo! was not actively looking to sell. But they seem willing to sell now, after the initial proposal? This sounds to me like Yahoo! is fishing for a higher dollar from MS or whomever else may be intersted (some are saying AOL/Time Warner, but we'll see). Microsoft can also circumvent the Board's decision and take the offer to the stock holders directly, opting for a more hostile... hostile takeover.

I think Yahoo! is just playing a money game here, trying to grab a few extra dollars from MS. It seems that MS is determined to buy the company, and they have the pockets to keep digging, so why not try to bleed a few more yachts out of them? I can't blame them for that. The press release from Yahoo! states that the Board feels that the $44 Billion bid from Micorsoft severely understates the valueof the company, but that bid constituted a 40% markup of the stock price on the day the bid was made, If you ask me, the average stock holder will probably disagree with the Board on this issue.

As another day starts, the drama of the Microsoft/Yahoo! deal just keeps on going.

[via: Download Squad]