Yahoo Rejects Microsoft Bid Again - New York Times:
"The company was responding to a letter from Microsoft that threatened to lower the price of its buyout offer and take it directly to Yahoo shareholders....And a video from the Associated Press:
Our board’s view of your proposal has not changed,” Yahoo said in letter to Mr. Ballmer....“We continue to believe that your proposal is not in the best interests of Yahoo and our stockholders. Contrary to statements in your letter, stockholders representing a significant portion of our outstanding shares have indicated to us that your proposal substantially undervalues Yahoo. Furthermore, as a result of the decrease in your own stock price, the value of your proposal today is significantly lower than it was when you made your initial proposal.”"