Yahoo has reportedly decided to reject Microsoft's unsolicited takeover offer. Several newspapers and news agencies say Yahoo's board will on Monday dismiss the $44.6bn (£22.9bn) offer as being inadequate.
When it was made, Microsoft's $31 a share offer was 62% above the level at which Yahoo's shares were trading.
Yahoo's shares closed on Friday at $29.20, which may suggest doubt that the offer will be successful or that a higher price will be offered.
A source quoted by the Wall Street Journal said that Yahoo's board would be unlikely to consider anything below $40 per share.
source/full story: bbc
