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  Yahoo Said Rejecting Microsoft
Time: 15:28 EST/20:28 GMT | News Source: eWeek | Posted By: Kenneth van Surksum

Yahoo Inc's board believes Microsoft Corp's unsolicited bid of $44.6 billion to acquire Yahoo "massively undervalues" the company and directors are set to reject the offer, the Wall Street Journal reported on Saturday, citing an unnamed source.

Microsoft's $31 per share offer fails to take account of the risks that a merger between the world's largest software maker and Yahoo would be rejected by regulators, the paper reported, citing "a person familiar with the situation."

A spokeswoman for Yahoo, a diversified Internet media company, declined to comment on the proceedings of the company's board of directors.
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