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

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.

Written by: Andre Yoskowitz @ 19 May 2013 9:38
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