All along, I had a feeling this would happen.
Just like an unreasonable seller in a declining real estate market, Yahoo rebuffed the advances of a ready and willing buyer (Microsoft) numerous times. Reason? The offer presented by Mr Softee “shortchanged” Yahoo’s past stock value even though it came at a significant premium over current stock price. At first, the rejection was thought to be an attempt to get the buyer to sweeten the deal. But after Microsoft did just that this past weekend, it is now clear that this is just plain delusion on Yahoo’s part.
That bluff just blew up in their face. Bid is now withdrawn and Yahoo’s only viable suitor is gone.
