I’m certain that Jerry Yang had long ago realized that he really fucked up the acquisition by Microsoft. Just a couple of weeks ago at the Web 2.0 summit, Yang said that it would still be in Microsoft’s best interest to acquire Yahoo! That sounds like an admission of failure if I’ve ever heard one.
This was a long time coming. Yahoo! shareholders and employees have suffered long enough, and it is time they get the share value they deserve. Speaking of which, YHOO is trading at around $12, up over $1.20 a share (about 11%) in pre-market trading this morning. Of course, this is a far cry from the $31 a share that Microsoft was offering for Yahoo! just nine months ago. I doubt if Yahoo! will ever make it that high again before someone swoops them up at a lower price.