Microsoft Walks Out Of Yahoo Deal
The anticipated deal between Microsoft and Yahoo is now off. The news is all over the internet today and the rumor is Yahoo stayed firm with $37/share while Microsoft would only want to go as high as $33/share. Steve Ballmer withdrew the offer today putting an end to a three-month buyout saga. Microsoft will not even pursue the hostile take over anymore. It’s going to be a sad day for Yahoo’s shareholders on Monday. If the deal has gone through, Yahoo’s stock is expected to soar in the opening market this Monday but with the current situation, I won’t be surprised if the stock price goes back below $20. So “Microhoo” is a no go. On Monday, it’ll be a “Microhuhu” for a lot of shareholders.
