I am not sure I have the attention span to follow the love/hate story that is the Microsoft/Yahoo/Carl Icahn/Rupert Murdoch relationship acquisition/merger/whatever -- but it seems that as of this moment, Yahoo!
has once again rejected
Microsoft's proposal -- this time -- a proposal to restructure.
Rupert Murdoch weighed in by saying
News Corp will not be involved in any Yahoo deal and furthermore, Yahoo and Microsoft
will not end up with any deal.
Yahoo for its part is communicating to the world about the matter through press releases
and the latest one
claims that Carl Icahn/Microsoft gave Yahoo less than 24 hours to accept a take-it-or leave-it deal that would be of higher risk, complexity and lower financial value than the deal Yahoo signed recently with Google.
In addition, the board apparently was not happy with the Microsoft/Icahn proposal's requirement that the board and the senior management take a hike. They say, this massive change would destabilize Yahoo.
Here are some other points made by Yahoo:
-- The revenue guarantees suggested, which are conditional and subject to reduction, are well below the search revenue that the Company is expected to generate on its own and in association with its announced commercial agreement with Google. That agreement alone is estimated to generate $250 to $450 million of incremental cash flow for the first twelve months following implementation, while allowing Yahoo! to remain a principal in paid search;