Turns out Resistance isn't futile
Yahoo! Microsoft has officially withdrawn the unsolicited buyout of Yahoo! quoth the Ballmer : "...I hereby formally withdraw Microsoft’s proposal to acquire Yahoo!." and my favorite bit... Also, after giving this week’s conversations further thought, it is clear to me that it is not sensible for Microsoft to take our offer directly to your shareholders. This approach would necessarily involve a protracted proxy contest and eventually an exchange offer. Our discussions with you have led us to conclude that, in the interim, you would take steps that would make Yahoo! undesirable as an acquisition for Microsoft . What kind of steps ? I just don't know what you are implying . Yahoo! CEO Jerry Yang responded with his own brand of Job'sian Optimism. Yahoo! is profitable, growing, and executing well on its strategic plan to capture the large opportunities in the relatively young online advertising market. Our solid results for the first quarter of 2008 and increased full...