Yahoo rejects Microsofts deal !!

In a very tragic incident kindaa thing Yahoo Inc rejected Microsofts deal terming it as a too low unsolicited offer.

In a statement,Yahoo said its board unanimously concluded the proposal was not in the best interests of its shareholders.

The company said the offer "substantially undervalues" its "global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments."

If it was successful a merger of Microsoft and Yahoo would be the world's largest of two computer technology companies and would create a formidable rival to Internet search and advertising leader Google..

Sources : Reuters

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