February 9, 2008 / 7:35 PM / 12 years ago

Yahoo to reject Microsoft bid: source

A Yahoo! signs sits out front of their headquarters in Sunnyvale, California, February 1, 2008. 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. REUTERS/Kimberly White

NEW YORK (Reuters) - Yahoo Inc. is set to reject Microsoft Corp.’s offer, initially worth $44.6 billion, as undervaluing the business, a source familiar with the situation said on Saturday.

The Internet media giant is expected to reject Microsoft’s offer on Monday, the source said.

Reporting by Megan Davies; Editing by John O'Callaghan

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