Yahoo! formally declined Microsoft's 44.6 billion dollar offer today. The board of directors rejected the offer that they considered "undervalued" Yahoo!. Microsoft has not issued a comment since the refusal. However, Yahoo's chief executive has reportedly sent emails to employees stating that the firm would try to avoid a Microsoft takeover.

Yahoo! has been said to believe that its shares are worth around 40$, 10$ more than what was offered by Microsoft. This offer from Microsoft has gained a lot of media attention since it has sparked a mini controversy with Google condemning the offer and Yahoo! refusing it. Actually, Google's representatives see the offer as hostile, stating it is "an attack on independence of the Internet¹".

With Microsoft's offer refuted, no one knows what Yahoo! will do next. A merger with America Online is a possibility, as is a new bid from Microsoft...

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Yahoo! Wants more.

1)Yahoo rejects Microsoft's $44.6B