Get ready to watch Yahoo's stock get pounded on Monday morning.
From Balmer: "I first want to convey my personal thanks to you, your management team, and Yahoo!’s Board of Directors for your consideration of our proposal. I appreciate the time and attention all of you have given to this matter, and I especially appreciate the time that you have invested personally. I feel that our discussions this week have been particularly useful, providing me for the first time with real clarity on what is and is not possible...
...I still believe even today that our offer remains the only alternative put forward that provides your stockholders full and fair value for their shares. By failing to reach an agreement with us, you and your stockholders have left significant value on the table.
But clearly a deal is not to be."
According to News.com, Microsoft's pulled its Yahoo bid. My bet, Microsoft lets Yahoo twist in the wind a bit, lets the shareholder lawsuits get all tangled. Then pays a lot less than they were going to in the first place.
How many billions will Jerry Yang's ego end up costing Yahoo shareholders?