WebProNews

Breaking ... According to reports Yahoo has rejected Microsoft's $44.6 billion offer and plans to write a letter to Microsoft on Monday outlining its objections.

The Wall Street Journal reports that a Yahoo source says that the Board felt that Microsoft was trying to "steal" the company. The same source stated that Yahoo wouldn't consider an offer below $40 per share which would cost Microsoft another $12 billion.

This rejection is likely to spark shareholder lawsuits if Yahoo's stock price plummets back down to pre-offer levels.

>>> More to come