Once again, Yahoo!(YHOO Quote) has rebuffed an offer from software giant Microsoft(MSFT Quote).
Yahoo! announced Saturday night that Microsoft, along with billionaire investor Carl Icahn, had proposed on Friday a restructuring of Yahoo! that would entail Microsoft acquiring Yahoo!'s search business.
In a press release, Yahoo! said Microsoft and Icahn gave it 24 hours to make a decision on the proposal. Yahoo! added that Microsoft and Icahn made it clear they were "unwilling" to negotiate on the proposal's fundamental terms.
"This odd and opportunistic alliance of Microsoft and Carl Icahn has anything but the interests of Yahoo!'s stockholders in mind," said Roy Bostock, Yahoo!'s chairman, in a news release. "Clearly, Microsoft, having failed to advance in search, is aligning with the short-term objectives of Mr. Icahn to coerce Yahoo! into selling its core strategic search assets on terms that are highly advantageous to Microsoft, but disadvantageous to Yahoo! stockholders." ...
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