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Flash: Yahoo! (YHOO) turns down Microsoft (MSFT) bid

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The board at Yahoo! (NASDAQ: YHOO) will turn down a bid from Microsoft (NASDAQ: MSFT), which is valued at $31 a share. According to The Wall Street Journal (subscription required), Yahoo!'s board determined that the $31 per share offer "massively undervalues."

Rumors are that Yahoo! will seek an amount of at least $40 a share.

Douglas A. McIntyre is an editor at 247wallst.com.

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Last updated: November 08, 2009: 02:52 PM

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