Yahoo Says 'No' to Microsoft the Way Mae West Said No to a Man

Yahoo officially rejected Microsoft's offer, and there are lots of good analytical reasons to think that it's just a delay tactic.

Or you can look at the Yahoo board's statement today:

After careful evaluation, the board believes that Microsoft's proposal substantially undervalues Yahoo including our global brand, large worldwide audience, significant recent investments in advertising platforms, and future growth prospects, free cash flow, and earnings potential, as well as our substantial unconsolidated investments.

Which, in business speak, is playing hard-to-get along the lines of, "When I'm good I'm very, very good, but when I'm bad, I'm better."

Microsoft works a little harder, Yahoo will be heading upstairs with it.

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