So, Yahoo! has rejected Microsoft's last offer of $33/share, saying it won't accept anything less than $37/share for the company. The last time Yahoo! stock was $37/share was January 2006. It's dropped over $4/share so far today while Microsoft's stock has risen, and there are at least 7 lawsuits in the works from Yahoo! shareholders over the Microsoft rejection. I think this is a case of a company's founder having far too much pride and ego to think rationally about it's future, a future that is growing cloudier every day.
So, Jerry Yang and his cohorts have rejected what is probably going to be the best offer for the company. Congratulations, Yahoo! You've succeeded in driving another nail into your coffin.