Well, it looks like Microsoft told Yahoo adieu today - officially pulling its $44 billion off the table. I mean its $49 billion offer off the table.
Yep - ol' Steve Ballmer & Co. added another $5 billion to the pot - and Jerry Yang declined - with his hand outstretched. Seems that Jerry, who obviously doesn't believe a billion is a billion in this day and age - wanted ANOTHER $4 billion.
In a letter from Ballmer to Yang, he states that Microsoft also won't be looking at its option for a hostile takeover, stating that Yahoo! likely "would take steps that would make [it] undesirable as an acquisition."
Really? You think?
So it's over. There will be no Microhoo. Boo hoo (for Yahoo!).
Like I mentioned in a previous post - sit by your computers as the markets open on Monday and sell Yahoo short! That stock is going to tank like no body's business.
While you're there - pick up some Microsoft - their stock is going to go up.
And Jerry - for goodness sake - LAWYER THE HELL UP! Everyone and their dog is going to take a crack at you from your own shareholders, to the DOJ for that "crazy little partnership" with Google, to Microsoft (dunno what yet, but guaranteed - it'll be something).
To Microsoft: I wouldn't have bet you would have walked away from this deal. But, hey, Steve - glad you took a man pill and did. It would have truly been one of the biggest mistakes in the history of the company. And how would that have looked now that Bill has only a couple of months left?
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