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Microsoft’s grand internet strategy, it turns out, is still Yahoo, despite walking away from a pursuit of the company two weeks ago.
Microsoft said on Sunday that it “is considering and has raised with Yahoo an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo.” Microsoft, however, did not rule out making a takeover offer in the future. (Yahoo’s response was that it has “confirmed with Microsoft that it is not interested in pursuing an acquisition of all of Yahoo at this time.”)
What has changed? Well, obviously it was the emergence of Carl Icahn and a proxy fight that is likely to be supported by other large disappointed shareholders of Yahoo.
But, more important, it is apparent […]
Original post by Jeffrey Cane, Portfolio.com
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