Yahoo Inc. is set to reject Microsoft's takeover bid for $44.6 billion, stating that the offer undervalues the companies worth. Yahoo has recently been struggling in recent years as its online ads unit has not received the sales momentum needed to compete with Google. The offer for $31 per share was 62 percent above Yahoo's stock price of $19.18 before the bid. Now Microsoft may purse taking the bid directly to the shareholders, or many analysts believe that Microsoft may increase its offer as much as $35 per share.