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Sources: Tumblr to reject Yahoo's $1.1 billion offer

Written by Andre Yoskowitz (Google+) @ 19 May 2013 9:38 User comments (1)

Sources: Tumblr to reject Yahoo's $1.1 billion offer According to sources, Tumblr feels Yahoo's expected $1.1 billion acquisition offer is too low, and will reject any offer in that price range.
A large acquisition is very likely, say the sources, but it may not end up being by Yahoo.

Previous reports had stated that Yahoo's board is expected to vote on the $1.1 billion cash bid at a special meeting tonight, with an announcement to be made on Monday.

The sources also claim that Yahoo has a lock-up agreement to prevent a bidding war, which could make other offers less likely, at least for now.

Tumblr's demographics fit perfectly into the range Yahoo is now trying to explore, 18-to-24-year-olds.

Tags: Yahoo Tumblr
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1 user comment

120.5.2013 15:20

Update: http://www.forbes.com/sites/jeffbercovi...m_medium=social


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