Microsoft/Yahoo Deal Off

Microsoft (MSFT) announced today it has abandoned its effort to acquire Yahoo (YHOO), after Yahoo said it wanted Microsoft to pay $37 a share, $4 above Microsoft’s latest offer.

Microsoft made the offer on February 1. I wrote then that “acquisition deals announced for the first time during Mercury retrograde usually don’t materialize.” This is why I recommended Yahoo shareholders at the time “should take the money and run.”

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