Yahoo Says Current Microsoft Bid Undervalues Yahoo, but Not

By: Associated Press Email
By: Associated Press Email

Sunnyvale, Calif (AP) Yahoo says it's not opposed to a deal with Microsoft, it just wants a better one.

Microsoft warned over the weekend that if Yahoo doesn't accept the 41-billion-dollar buyout by April 26th, it will launch a hostile takeover at a less attractive price.

Yahoo Chief Executive Jerry Yang and Chairman Roy Bostock say in a letter to Microsoft Ceo Steve Ballmer that they are “open to all alternatives that maximize stockholder value.”

It goes on to say they're willing to accept a deal “if it represents a price that fully recognizes the value of Yahoo on a standalone basis.”

The yahoo executives also say Microsoft's threat to begin a hostile takeover is “counterproductive.”

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