With reports coming in indicating that Yahoo! and Jerry Yang snubbed a $40 per share offering by Microsoft, Jerry Yang might have intentionally Micro(ed) Yahoo!'s credibility in the market.
Shareholder Carl Icahn has been strongly criticizing the board of directors for their refusal to let Yahoo! be acquired by Microsoft. He has gone on to label the entire episode as a big betrayal by the directors in protecting the shareholders interest.
Yahoo! always maintained that Microsoft undervalued its share and now, when the deal is off, Jerry seems to run out of answers to explain his resistance.
It might not be long before the shareholders dissolve the board. Jerry meanwhile has some time(till July) to strike some sort of a deal with Microsoft to protect the board from getting dissolved. If not, Yahoo! might very well become "Yahoo!-A Microsoft Company".
From a shareholders perspective, at least, it is better than becoming MicroYahoo!
With acquisitions and mergers in like hot-cakes nowadays, it makes me wonder if there will be only five or six software/IT companies 50 years down the line. My list is more pruned- Microsoft, Google, IBM.
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