Yahoo to Reject Microsoft Bid

By Eric Vessels on February 9th, 2008

An update to this post

(Fortune) — Yahoo plans to reject Microsoft’s $44.6 billion takeover bid, the Wall Street Journal reported Saturday, citing a person familiar with the situation.

The source, according to the paper, said Yahoo’s board believes Microsoft’s offer of $31 per share “massively undervalues” the company and does not account for the risk that a deal could be blocked by regulators.