Yahoo rejects Microsoft’s $44.6 billion offer; MS says it’s ready for a fight

Yahoo has rejected Microsoft’s unsolicited offer to acquire the company for $44.6 billion. According to Yahoo, Microsoft’s bid “substantially undervalues Yahoo including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments.”

Describing Yahoo’s response as ‘unfortunate’, Microsoft has said its own proposal was ‘full and fair’. Microsoft’s statement suggests that, at least for now, the company is not willing to raise its price, reports New York Times.

Microsoft has also indicated that it is ready for a fight, repeating earlier statements that it might consider “all necessary steps” to ensure the deal is completed. On its part, Yahoo has said its board would “continue evaluating all of its strategic options.”