SAN FRANCISCO: Yahoo Inc's board believes Microsoft Corp's unsolicited bid of $44.6 billion to acquire Yahoo massively undervalues the company and directors are set to reject the offer, the Wall Street Journal reported on Saturday, citing an unnamed source.
Microsoft's $31 per share offer fails to take account of the risks that a merger between the world's largest software maker and Yahoo would be rejected by regulators, the paper reported, citing a person familiar with the situation. A spokeswoman for Yahoo, a diversified Internet media company, declined to comment on the proceedings of the company's board of directors.
