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