Ripe for the picking

5 May 2008 By Robert Cyran Follow @rob_cyran

Sending Microsoft packing will cause its stock to plummet and irritate investors. This is a rich seam for dissidents to tap. They ll have to step quickly they probably have about ten days to pick a new slate of directors.

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Microsoft has withdrawn its bid for Yahoo after the two sides could not agree on a price.

The software group had made a cash and stock bid of $31 per share, or $42bn, for the internet company. Yahoo's cofounders Jerry Yang and David Filo reportedly asked for $37 a share. According to a letter sent by Microsoft's chief executive Steve Ballmer to Yahoo's management, Microsoft was willing to pay up to $33 a share, or $47.5bn.

Microsoft had threatened to nominate a competing set of directors to Yahoo's board had negotiations failed.

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