Yahoo CEO Jerry Yang and Chairman Roy Bostock on Monday again rejected Microsoft’s bid for their company, saying it undervalues Yahoo. But, they would be willing to reconsider a deal, if Microsoft makes a better offer.
Miguel Helft, of the New York Times, reports Yang and Bostock are continuing to explore alternatives to Microsoft’s offer. And, sources say Yahoo is still in conversations with Time Warner about a deal to merge AOL into Yahoo.
Microsoft’s CEO, Steven Ballmer has threatened to begin a proxy fight to oust Yahoo’s directors if they can’t reach a deal in three weeks and insinuated the delay could bring in an even lower offer for Yahoo.
Microsoft’s Jan. 31 offer was first valued at $44.6 billion, but has fallen to just over $42 billion after a drop in the price of Microsoft’s shares.