Yahoo rejects Microsoft's Bid

According to the WSJ report, the Yahoo Board believes that the $31 per share bid undervalues Yahoo as one of the web 3 major players. Likewise, it won’t even compensate for the risk that Yahoo would have to go through once it accept the original bid and later find itself reject by regulators.
And how much would Yahoo accept? Apparently, a bid not less than $40 per share is acceptable to Yahoo. But as others would like to believe, Microsoft is not vent on giving that much offer.
So, the questions everybody is asking as early as now, even though there was no official word from Yahoo yet is what is going to be Microsoft’s next move? That remains to be seen, and speculations are surfacing up on the web.
But what everybody seemed to have forgotten is what Yahoo’s next move is? How will it move on after something like this, happened? Microsoft has made its point-that Yahoo is on the losing streak and Microsoft is still all mighty and powerful and is capable of offering to buy Yahoo.
For Yahoo, it is definitely not good to receive an undervalued offer like this. Makes it even harder to bring the company into the right direction.