Earlier this month, Microsoft offered a bid of $44.6 billion for an acquisition of Yahoo!. After Microsoft’s offer, several other companies, including News Corp. and Apple offered bids too in a seemingly battle of the epic corporations in a business royal rumble.
But everyone can rest easy because Yahoo! rejected Microsoft’s bid. According to Bloomberg.com, the board determined the price "massively undervalues" the company. While Microsoft offered $31 per stock for Yahoo!, the company wanted at least $40 or more than $12 billion more than what Microsoft offered.
Jerry Yang, CEO of Yahoo!, said that Yahoo is examining its options, may consider a partnership with Google or ways to obtain a higher offer from Microsoft.
In the meantime, I think everyone can settle down, a massive conglomerate is not coming to a store near you.
