Yahoo shares are set to tumble today after its dismissal of an improved $46.5bn (£23.6bn) takeover approach from Microsoft prompted the software giant to walk away.
Microsoft's chief executive, Steve Ballmer, said Microsoft had pulled its $33-a-share offer because Yahoo's demand for $37 made no sense. The move ended three months of discussions and increasingly bitter public statements from each side.
Analysts said Yahoo had overplayed its hand and predicted a fall of up to 30 per cent in the web-search company's share price when the Nasdaq index opens today. The stock jumped almost 7 per cent to $28.67 on Friday as hopes of a deal between the two companies rose. The shares have gained 49 per cent since Microsoft's original approach was announced on 1 February
http://www.independent.co.uk/news/business/news/yahoo-set-to-plunge-after-microsofts-46bn-bid-is-withdrawn-821202.html
THANK GOD THE WAR IS OVER......I'm curious to see what the aftermath is going to be now...where is Microsoft headed from here? how deep into the Google partnership will Yahoo dive in? and will the heads of Yahoo face any backlash from owners if the company does go south from here.
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