Yahoo Rejects Microsoft’s Ultimatum a Second Time

April 7th, 2008

Yahoo on Monday rejected Microsoft ‘s takeover bid a second time as too low. Microsoft’s initial offer was valued at $31 a share. However, the declining price of Microsoft shares reduced the offer to just more than $29 a share.The search company’s rejection came on the heels of Microsoft’s weekend letter that threatened to lower its buyout offer and take the matter straight to Yahoo shareholders, a hostile move to which Yahoo issued an aggressive response.

The latest twist in the technology drama began Saturday and looks to continue throughout the month as the battle advances to a head on April 26.

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