You can be pretty certain we haven’t heard the last from Microsoft regarding their offer to buy Yahoo!, but for now Yahoo! is saying a “no thanks” to the $44.6 billion buyout offer. Jerry Yang and other directors say Yahoo! are seeking at least $40 a share, or nearly $60 billion. Microsoft may not be willing to pay.

The bean counters of Yahoo! feel the number is on the low end. Others would like to get cozy with Google in order to improve search revenues, despite the fact that there may be some antitrust implications with that. Stayed tuned on this one. Things are getting very interesting.

[Valleywag]