The most riveting drama on Wall Street right now--and there is plenty--is Microsoft's play for Yahoo. It seems to be on the verge of hostile. None other than Bill Miller, the esteemed manager of the Legg Mason Value Trust fund, has weighed in with a prod to Microsoft, according to Financial News Online. His fund is the second largest Yahoo shareholder and has been battered by the stock most likely. Miller says the company is worth more than $40 a share, compared with the current offer of $31 a share. Many think the board is trying to goose up the bid. Right now, the ball is in Microsoft's court. It does not appear to be willing to go any higher (see previous item).

For more:
- here's the Financial News Online article