It was to be expected (in my opinion). The Wallstreet Journal reports that Yahoo's board plans to reject Microsoft's $44.6 billion bid by sending a letter tomorrow stating their position. Although I don't agree with them that the proposal undervalues Yahoo that much. I do agree that Microsoft has taken advantage of Yahoo's recent weakness in share price. An interesting scenario they picked up though: "Search Advertising Partnership with Google Inc." Hmmm... wouldn't that be quite a monopoly?