http://disqus.com/people/3d0fd9f7cc13507630539184284663e8/enSun, 03 Aug 2008 10:21:08 -0000http://bobcaswell.disqus.com/yahoo_shows_how_the_wall_street_financial_system_is_broken/#comment-1085366Yahoo! board rejected MS offer. Yahoo! board was re-elected, Icahn is now participating on the board. You could maybe argue that given where things are, Icahn does would prefer to play along than sell and take a loss - but as hard as may be for a Microsoftie to admit, it may just be that strategically and financially no one believed the whole deal made any sense and hence Wall Street did work and rejected the deal...<br><br>All we knew of strategy was that the benefit from deal was that MS online division would stop losing money. Hard to make any kind of financial forecasts to value NPV of MS stock issued from acquisition ofr that type of strategy and with little detail. So perhaps it was better the devil you know than the devil you know given that you could not see how shareholder value of MS stock would change much with acquisition given lack of detail and so shareholders felt value better maximized with current Yahoo! management...PatrickSun, 03 Aug 2008 10:21:08 -0000