So two days ago, Microsoft’s Steve Ballmer handed Yahoo! a threatening letter to accept their big ass offer, $44.6 Billion, or face a proxy fight. Well today Yahoo! once again decided the offer undervalues the company and rejected Microsoft’s offer of a buyout. In Yahoo’s own words:
We are open to all alternatives that maximize stockholder value. To be clear, this includes a transaction with Microsoft if it represents a price that fully recognizes the value of Yahoo! on a standalone basis and to Microsoft, is superior to our other alternatives, and provides certainty of value and certainty of closing.
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