Yahoo has explained to its shareholders why it declined to b

Having earlier told Microsoft no, now Yahoo has explained to its shareholders why it declined to be purchased. Below, some highlights.

• Yahoo's board is "continuously evaluating all of Yahoo!'s strategic options" 
• Yahoo is has a "unique combination of strengths," including a strong brand, many popular online services, a leader in display advertising, a leader in search advertising, mobile and online video. 
• Yahoo plans to grow key properties by 15 percent per year, over the next several years.
• Yahoo is working to make itself a "must buy" for advertisers.