WSJ: Yahoo Plans To Reject Microsoft’s Offer

The Wall Street Journal is reporting today that Yahoo plans to reject Microsoft's offer as insufficient:

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 on Monday, spelling out its position.

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