It's mainly a re-adjustment based upon the diminished chances of a microsoft buyout. I own MSFT stock (bought some speculatively, expected the deal to fall through, as it did), and at this point Yahoo seems, in fact, quite dead. (I don't mean its properties, but its corporate independence.) I suspect that when it becomes clear that a google deal will happen, yahoo will drop another 30-40 percent. It's really that bad.
What's keeping it up is the continued possibility of a stockholder revolt, which is precisely what needs to happen. (Supposedly, someone was organizing it, but I haven't followed along.) The stockholders need to oust the whole board, and replace it will a cleanup crew, who'll sell out to microsoft.
A google/yahoo buyout won't happen. The gov't (hopefully) wouldn't allow it.
This won't happen, as the "Change in Control Employee Severance Plans" is explicitely activated as soon as a change of control happens (election of new board).
What's keeping it up is the continued possibility of a stockholder revolt, which is precisely what needs to happen. (Supposedly, someone was organizing it, but I haven't followed along.) The stockholders need to oust the whole board, and replace it will a cleanup crew, who'll sell out to microsoft.
A google/yahoo buyout won't happen. The gov't (hopefully) wouldn't allow it.