Yahoo's board has decided Microsoft's $31-per-share offer "massively undervalues" the company, according to a report in The Wall Street Journal. Yahoo is expected to formally reject Microsoft's offer, the Journal reported.
In the report, it appears Yahoo is floating the idea that it might consider an offer of at least $40 a share. I'm not in the boardroom, but all of this--the leak, the wording--sounds like more of a negotiating tactic than a final rejection.
But, if Yahoo does want to play hardball, it has bolstered its position. The report says that Yahoo has … Read more