Yahoo shares fell roughly 5 percent in after-hours trading, as rumors swirled Microsoft was considering lowering its buyout bid for the Internet search pioneer.
Shares of Yahoo dropped to $27.01, or 4.76 percent, in after-hours trading, after Reuters, citing a source, reported Microsoft was considering re-evaluating its bid. The report noted that the possible re-evaluation stemmed from a concern that Yahoo's value may have declined since the initial offer was made February 1.
For Microsoft, the threat of lowering its bid may be as effective a weapon as waging a proxy fight or an exchange offer. In … Read more