[Infowarrior] - Yahoo tanks as Microsoft backs away

[Richard Forno]

June 12, 2008, 2:55 pm
Yahoo tanks as Microsoft backs away

http://dailybriefing.blogs.fortune.cnn.com/2008/06/12/yahoo-tanks-as-microsoft-backs-away/?source=yahoo_quote

Yahoo (YHOO) plunged after The Wall Street Journal reported the  
Internet giant’s discussions with Microsoft (MSFT) have ended without  
a deal. Microsoft isn’t willing any longer to buy the Sunnyvale,  
Calif., company for $33 a share, the Journal reports. The news deals a  
setback to billionaire investor Carl Icahn’s effort to force the sides  
into a deal, which started in April after Microsoft stepped away from  
the table the first time, and could pave the way for a search tie-up  
between Yahoo and rival Google (GOOG). Yahoo investors aren’t liking  
the news, though, because it seems to indicate Microsoft deal hopes  
are dead. Shares of Yahoo dropped 10% in heavy trading Thursday  
afternoon to $23 and change.