Yahoo Board To Reject Microsoft Bid

SAN FRANCISCO – Yahoo Inc.’s board plans to reject Microsoft Corp.’s bid to buy the Internet pioneer, The Wall Street Jornal reported on its Web site Saturday.

Board members concluded the unsolicited $44.6 billion offer massively undervalues the Web pioneer, a person familiar with the situation told the newspaper.

The bid was made public Feb. 1.

(Copyright 2008 by The Associated Press. All Rights Reserved.)