SAN FRANCISCO - Shares of Yahoo fell 22 percent in premarket trading as hopes for the once dominant search engine dimmed on the withdrawal of a $47.5 billion (€30.73 billion) bid from Microsoft Corp. over the weekend.
Yahoo Inc. Chief Executive Jerry Yang is convinced that the company he started in a Silicon Valley trailer 14 years ago was worth more than the money Microsoft Corp. had offered for the Internet pioneer.
Now he may only have a few months to convince Wall Street that his rebuff of Microsoft's takeover bid was a smart move — and if he can not, analysts will not be surprised if Yang is either replaced as CEO or forced to consider accepting a lower offer if Microsoft comes knocking at his door again. Read full story on this site...
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