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. ... [ read the full article ]