Microsoft undeterred by Yahoo's rejection
InternetNews | at | by Mike
Yesterday afternoon, Microsoft responded to Yahoo's formal rejection of its acquisition bid in a brief statement, signaling its resolve to pursue the deal.
"It is unfortunate that Yahoo has not embraced our full and fair proposal to combine our companies," Microsoft said in a statement. The company reiterated its belief that the merger would be in the best interest for shareholders of both companies.
"The Yahoo response does not change our belief in the strategic and financial merits of our proposal," Microsoft added, while reporting that it "reserves the right to pursue all necessary steps" to complete the transaction.