Yahoo!, as expected, lost 15% of its value yesterday with more than 279,000,000 shared traded. Average volume of transaction is only 10% of that. My guess is that with that much buying and selling, their stock is actually going to rise slightly today.
In the mean time Jerry Yang, in an inclusive interview with Reuters, said that he is still open to a deal with Microsoft. According to Yang he was simply “seeking common ground when [Microsoft] abruptly ended deal talks.” and “We were negotiating a way to find common ground and then on Saturday they chose to walk away”.
Speaking for Yahoo’s biggest shareholder (they own 16% of stock), Gordon Crawford, portfolio manager for Capital Research Global Investors said “I am extremely angry at Jerry Yang and at the so-called independent board”.
This all goes to show that the Yahoo/Microsoft negotiations are far from over and we will most likely see daily updates coming in for the rest of the week here.
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