Yahoo rejects Microsoft, again 1:53 微软再度被雅虎拒之门外

Yahoo dismissed Microsoft's latest takeover overture, saying its deal with Google is financially superior.

Well, the bickering in tech land continues, Microsoft is after Yahoo again. On Friday, Microsoft renewed its bid to buy the Internet giant's search engine, while adding an unwelcome nuance, turning over the rest of the company to a new board controlled by Carl Icahn. In a take-it-or-leave-it bid with a 24-hour time limit, Microsoft went after Yahoo's search division, only to be shot down with fighting words from Yahoo. Yahoo's chairman Roy Bostock issued a statement over the weekend, calling it, "ludicrous" , to think that Yahoo would accept Microsoft's "erratic and unpredictable behavior", knocking down the bid, saying it is not in the best interest of Yahoo shareholders.

Yahoo listed the factors for its decision . First, its commercial agreement with Google, saying that provides superior financial value and less risk than the Microsoft Icahn proposal. Secondly, the Microsoft Icahn proposal would block a potential sale of all of Yahoo for a full and fair price. Third, the majority of Yahoo would be overseen by Icahn's slate of board members, which has virtually no working knowledge of Yahoo's business. And finally, Yahoo believes the ousting of its board would destabilize the company for up to the one year it would take to gain regulatory approval for the deal.

But also included in its response, Yahoo reiterated its willingness to sell the entire company for Microsoft's elevated 33 dollar a share or 47. 5-billion-dollar / offer, which was pulled from the table back in May. But Microsoft did not buy it. Back in May also, Microsoft offered Yahoo one billion dollars for its search division, and said it would spend eight billion dollars for a 16% stake in Yahoo's remaining operations. As for the latest offer, Yahoo said it contained a number of improvements, but still was not good enough. Yahoo holds its annual shareholder meeting on August 1st, and we'll see then if Icahn gets its way when it comes to the board seats.