Yahoo! says "no" to Microsoft – thinks it's worth more than $45 billion

yahoo-says-no-to-microsoft.jpgYahoo! rejected Microsoft’s friendly buyout offer over the weekend, saying that MS’s $45bn offer “massively undervalues” the Yahoo! brand.

Clearly still thinking it’s 1997 and Google doesn’t exist yet, Yahoo! is apparently sticking out for $40 a share – a significant increase on Microsoft’s $31 offer. That would result in MS having to turn Bill Gates upside down and shake out another $12 billion to get the deal signed…