Yahoo board of directors has refused from the transaction with Microsoft
Board of directors of company Yahoo! Inc., owning same the Internet-portal, has rejected Microsoft’s offer on merge for 44,6 billion dollars. As is informed in Yahoo press release, the offer of the giant “essentially underestimates” the company.
Let’s remind, that Microsoft has offered to buy Yahoo! for 44,6 billion dollars. For each owner’s share Internet-portal Microsoft offers to pay 31 dollars that is on 62 % above the market price Yahoo! Inc. at the moment of closing the tenders on NYSE on January, 31st 2008г. (19,18 dollars).
Microsoft offered Yahoo! Inc. shareholders to exchange their shares for cash, or on Microsoft shares. The Total sum of the transaction should be half paid by actions, and half - cash.
After the offer it has been officially declared, that Microsoft general legal adviser has noted that Other companies, except for Google as the similar transaction will contradict the antimonopoly law can also apply for purchase of Yahoo!.
