Yahoo has rejected
Microsoft's takeover bid, which valued
the company at $44.6bn (£22.9bn).
The search provider said the offer is too low and is not in the best
interests of Yahoo's stockholders.
But today's statement from the company does not rule out accepting future
bids.
"The board of directors is continually evaluating all of its strategic
options in the context of the rapidly evolving industry environment and we
remain committed to pursuing initiatives that maximise value for all
stockholders," it said.
Yahoo shares rose 2.1 per cent to $29.81 (£15.31) on the
Nasdaq stock exchange in response to the
news.
Microsoft has made no statement about whether it will improve its offer, go
hostile or withdraw.
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Reports are circulating of a Yahoo/Google alliance to stave off the Redmond proposal 04 Feb 2008
The world's biggest software company is offering £22.4bn in shares or cash 01 Feb 2008
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