An emergency meeting was held over this weekend by the Board-Of-Directors – Yahoo at Sunnyvale, CA. The purpose of this board meeting really being to discuss on whether to accept or reject Microsoft’s second bid of $29.36 billion. The board believes that the current bid seemingly undervalues Yahoo nad is expected to reject the offer, something that will probably make yahoo an all time rival for Microsoft.
According to the Financial Times, the board was meeting late on Sunday as mentioned by the inside source. As of now, Yahoo executives believe Microsoft’s bid is too low. The seemingly low price maybe because of the due in part to the slip in Microsoft’s share price in the past few months. Back on February 1st, Microsoft had bid for .95 shares of Microsoft stock for yahoo’s each common stock or $31 cash. That offer had made a total value of approximately $44.6 billion during that period. But now Microsoft’s stock has since slipped to $29.36 a share which might be the reason for the low value bid.
According to the Financial Times, the board was meeting late on Sunday as mentioned by the inside source. As of now, Yahoo executives believe Microsoft’s bid is too low. The seemingly low price maybe because of the due in part to the slip in Microsoft’s share price in the past few months. Back on February 1st, Microsoft had bid for .95 shares of Microsoft stock for yahoo’s each common stock or $31 cash. That offer had made a total value of approximately $44.6 billion during that period. But now Microsoft’s stock has since slipped to $29.36 a share which might be the reason for the low value bid.
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