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| Version 0 | Version 1 |
|---|---|
| Yahoo 'to reject Microsoft offer' | Yahoo 'to reject Microsoft offer' |
| (about 3 hours later) | |
| Yahoo has reportedly decided to reject Microsoft's unsolicited takeover offer. | 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. | 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. | 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, suggesting doubt among traders that the offer would be successful or that a higher price would 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. | A source quoted by the Wall Street Journal said that Yahoo's board would be unlikely to consider anything below $40 per share. |
| Falling shares | Falling shares |
| A $40 a share offer would be a 109% premium to the $19.18 closing price of Yahoo's shares the day before the original offer was announced. | A $40 a share offer would be a 109% premium to the $19.18 closing price of Yahoo's shares the day before the original offer was announced. |
| Yahoo's shares have not traded above $40 for two years. | Yahoo's shares have not traded above $40 for two years. |
| Although its shares have fallen sharply since then, Yahoo's websites remain among the world's most popular. | Although its shares have fallen sharply since then, Yahoo's websites remain among the world's most popular. |
| Yahoo's share price falls have come as it has struggled to compete with Google, which has also been a big competitor for Microsoft. | Yahoo's share price falls have come as it has struggled to compete with Google, which has also been a big competitor for Microsoft. |
| Microsoft's shares have fallen 12% since it made its offer, which may reflect concerns that it has already offered too much or that such a large deal would distract its management away from its core software business. | Microsoft's shares have fallen 12% since it made its offer, which may reflect concerns that it has already offered too much or that such a large deal would distract its management away from its core software business. |
| As a result of the falling share price, Microsoft's cash and share offer is now only worth $41.8bn. | As a result of the falling share price, Microsoft's cash and share offer is now only worth $41.8bn. |
| Microsoft and Yahoo have both declined to comment on the reports. | Microsoft and Yahoo have both declined to comment on the reports. |