There is no legitimate business-based excuse for Yahoo! to have turned down Microsoft's offer. Yang et al had to fight tooth and nail to keep it from being executed, and that opposition was obviously based purely on ideology: not wanting to become part of the MS behemoth. I don't believe any informed person seriously thought that Yahoo!'s choice to not only forgo but actively prevent Microsoft's buyout had anything to do with anything else.
Yang et al had to fight tooth and nail to keep it from being executed, and that opposition was obviously based purely on ideology: not wanting to become part of the MS behemoth
And not wanting to sorta admit defeat. That's why companies have boards, to do what is best for shareholders not for founders still thinking they got it. Yahoo's loss = Microsoft's gain.
The price goes back and forth, but right now I don't see yahoo leading anything, maybe just online answers. So it's part Marissa euphoria and part Alibaba stake.
