SAN FRANCISCO (Reuters) - Yahoo Inc Chief Financial Officer Blake Jorgensen said on Tuesday the company was not opposed to selling to Microsoft Corp, but is against a deal that undervalues the company.
In an interview with Reuters, Jorgensen said its first-quarter results were “right on track” despite having to deal with the distraction of Microsoft’s offer.
“We are not opposed to a deal with Microsoft. What we are opposed to is seeing it at a value that discounts the underlying value of the company,” Jorgensen said moments after the company announced its first-quarter results.
Yahoo and Microsoft are in a stand-off over Microsoft’s $43 billion bid to acquire the company. Yahoo has said Microsoft’s unsolicited offer undervalues the company, while Microsoft has said its offer is full and fair.
Reporting by Eric Auchard; Editing by Braden Reddall