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Update on Microsoft Bid For Yahoo

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Follow up to February 2, 2008 posting Microsoft Proposes Acquisition of Yahoo! for $31 per Share, this news:

  • Microsoft Lawyers Map Out the Bid for Yahoo – Company lines up its case for a new antitrust fight, by Nathan Carlile, Legal Times, February 11, 2008. “By making its offer for Yahoo, antitrust lawyers say, Microsoft is wagering that past rebukes by the feds will not play a role this time. The company is still operating under a consent decree negotiated as part of its settlement with the Justice Department as part of the epic antitrust case against the company. The decree was recently extended until 2009, and a three-member team at Justice is continuing to monitor Microsoft’s moves.”
  • WSJ – Yahoo Board to Reject Microsoft Bid: “Yahoo Inc.’s board plans to reject Microsoft Corp.’s unsolicited $44.6 billion offer to acquire the Web giant, a person familiar with the situation says. After a series of meetings over the past week, Yahoo’s board determined that the $31 per share offer “massively undervalues” Yahoo, the person said. It also doesn’t account for the risks Yahoo would be taking by entering into an agreement that might be overturned by regulators. The board plans to send a letter to Microsoft Monday, spelling out its position.”
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