a subscribers-only report in the Wall Street Journal says that Yahoo's board has decided to reject Microsoft's takeover offer. The NYTimes offers the only other independent reporting so far confirming this claim. The report says that Yahoo will formally reject the offer in a letter on Monday, since they believe it "massively undervalues" the company. Microsoft offered $31 per share, a 62% premium on the stock price at the time, for Yahoo; but the latter believes that no offer below $40 per share is tenable.
http://www.nytimes.com/2008/02/09/technology/09cnd-yahoo.html?_r=1&ex=1360299600&en=0a10211874f4e291&ei=5088&partner=rssnyt&emc=rss&oref=slogin
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