Yahoo's options dwindle

Yahoo may have been hoping to goose Microsoft's bid. A few hedge funds were angling for much the same, as is Bill Miller (see next item). But the New York Times notes that a higher bid does not appear likely. Yahoo has held white-knight talks withe likes of Google, AOL, and most recently News Corp. But who is going to pony up any more? Apparently, no one. So Yahoo's best hope to remain independent may rest with the antitrust division of the Justice Department. Hardly a comforting thought. Yahoo is even more out-manned in Washington. Microsoft has retained Innisfree M&A, a proxy solicitation firm, signaling that it is prepared to fight. Most think that Yahoo will cave in before it gets to that. Stay tuned.  

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