The Yahoo! Board of Directors had several meetings and discussions since the acquisition offer and has decided that they will not take it. The company also felt that they would be at risk by regulators. The company is officially declining on Monday.
“Yahoo’s board believes that Microsoft’s is trying to take advantage of the recent weakness in the company’s share price to ‘steal’ the company. The decision to reject the offer signals that Yahoo’s board is digging in its heels for what could be a long takeover battle,” wrote Matthew Karnitschnig, author at WSJ.
The Yahoo! Board is still considering a partnership with Google if necessary.