March 24, 2008
Yahoo stands proud
In an investor presentation detailing its three-year financial plan and strategic initiatives, Yahoo's board of directors unanimously determined that Microsoft's January 31 unsolicited acquisition proposal substantially undervalues Yahoo. The board cited Yahoo's global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, and unconsolidated investments. It was not clear from the presentation whether the company is still actively seeking suitors.