Microsoft Corporation (MSFT)Microsoft Abandons Yahoo Bid, Rebuffing Higher Sale PriceAP - May 4, 2008
Submitted by zukaus (4)
at 7:20AM PST on May 4, 2008
Microsoft Corp. withdrew its $42.3 billion bid to buy Yahoo Inc. on Saturday, scrapping an attempt to snap up the tarnished Internet icon in hopes of toppling online search and advertising leader Google Inc.
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Well it's just my opinion but you have it right, I believe Yang's actions are not in the best interests of YHOO shareholders. I believe Yang's resistance to selling is rooted in his desire to keep control of the company that he founded. That's completely understandable but he has perhaps forgotten that it's not his company anymore.
I believe the reasons behind Take-Two's resistance to selling are far more simple. They want more money and they are willing to gamble that EA will raise their bid, after all they get paid either way.