WISCONSINREPORT.COM (02/11/08) - The company that has one of the Internet's finest, useful and most versitile destinations, has rejected the latest offer from Microsoft. The Yahoo, Incorporated board studied the proposal and has decided to pass. There were rumors that the offer to purchase Yahoo was going to be turned down, and, today, the official announcement confirmed that rumor. Yahoo co-founder Jerry Yang, who took over as CEO less than a year ago, expects the company will become an even better buy in the future, providing greater dividend opportunities for stockholders. WisconsinReport.com has more.

Yang is telling employees and stockholders that the company is doing fine and can do nothing but improve it's position in the industry and become an even more viable purchase opportunity down the road.

Yang says the company is on it's way to becoming a faster-moving, better organized, more nimble company on its way to transforming the experiences of users, advertisers, publishers and developers.

Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company, today said the Yahoo! Board of Directors has carefully reviewed Microsoft's unsolicited proposal with Yahoo!'s management team and financial and legal advisors and has unanimously concluded that the proposal is not in the best interests of Yahoo! and Yahoo! stockholders.

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

The Board of Directors official statement indicates that the company and the board are continually evaluating all of its strategic options in the context of the rapidly evolving industry environment and remain committed to pursuing initiatives that maximize value for all stockholders.

Goldman, Sachs & Co., Lehman Brothers and Moelis & Company are acting as financial advisors to Yahoo!. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to Yahoo!, and Munger Tolles & Olson LLP is acting as counsel to the outside directors of Yahoo!.

Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California.