Yahoo shares dive after Microsoft abandons bid
AFP, May, 2008
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NEW YORK (AFP) — Yahoo shares plummeted Monday as the Internet giant's future became clouded after Microsoft walked away from a bid rather than pursue a hostile takeover.
Shares in the Internet pioneer sank 15 percent by the close of trading but remained five dollars above the price the stock was at when Microsoft's made its February 1 offer, signaling many in the market believe the deal is not dead.
"I don't think it's over," IDC analyst Karsten Weide said of Microsoft's quest to acquire Yahoo.
"I think what really happened is Microsoft called Yahoo's bluff. For now, they are singing the tune 'Tiiiime is on my side.'"
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Yahoo stockholders will be furious and litigious, putting tremendous pressure on the firm to quickly come up with an impressive business plan or go crawling back to Microsoft, analysts believe.
"The question for Yahoo is how ...
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