February 11 news: an informed person revealed that the Yahoo! Board had decided to reject Microsoft's acquisition offer of 31 dollars per share, and the main reason was that the offer price was too low.
On February 1, Microsoft announced its plan to acquire Yahoo! In a cash-for-stock deal worth 44.6 billion US dollars, equivalent to 31 US dollars per share. As a matter of fact, this was not the first time Yahoo! Had rejected Microsoft. A year ago, Microsoft had made an offer of 40 US dollars per share, which was turned down by Yahoo! Some analysts therefore believed that the Yahoo! Board would initially reject the deal, otherwise they would be derelict in their duty.