"How's this for a quick cave? Less than 48 hours after Microsoft (MSFT) pulled the plug on its Yahoo (YHOO) offer, Yahoo has already admitted publicly that it would have been willing to do a deal below $37. It has also already said that it would be happy to reopen talks with Microsoft.
Why the backtrack?
Because Yahoo employees and shareholders are dismayed by the collapse of the deal.
I'm extremely disappointed in Jerry Yang," said Gordon Crawford, a portfolio manager at Capital Research Global Investors, which owns over 6% of Yahoo's shares. "I think he overplayed a weak hand. And I'm even more disappointed in the independent directors who were not responsive to the needs of independent shareholders." writes alleyinsider.com