The cash and stock offer for Yahoo, which the internet company's management rejected last week, is now worth $41.7bn (£21.4bn) after Microsoft's share price fell.

By this reasoning, the company was not for sale, so management had not rejected a higher bid.

Again Lucky management rejected the offer as inadequate and was said to be contemplating defensive strategies.

The bank's management has already rejected these conclusions, instead promising it will take these issues more seriously when making such investments.

Gencorp's management had rejected an earlier bid, and said it would offer alternatives.

The management had previously rejected his visions of a full-evening epic.

Centel's management has rejected the offer as not credible.

Insisting on an election, management rejected the union's request for card recognition.

The issue could become important if the two differed about what to do if management rejected an adequate offer.

He also said management had rejected requests for an improved pension plan and extra pay for workers on the night shift.