It is being reported that the Yahoo board plans to reject the Microsoft 44.6 billion dollar offer to buy Yahoo.
According to the report, Yahoo board members say the unsolicited offer undervalues Yahoo.
The Microsoft offer is $31 a share. It is reported that Yahoo won't consider anything less than $40 a share. Such a price would cost Microsoft twelve billion dollars more.
There are still reports that Yahoo is considering some type of partnership with Google.
These two articles have more details:
Bloomberg.com: Worldwide
Report: Yahoo Board to Reject Microsoft