So, Microsoft has said they have put their Yahoo! acquisition ambitions on hold, which has, needless to say, had something of a negative effect on the net firm's share price.
As previously reported, Microsoft had ambitions to acquire Yahoo! and, after their offer was turned down by the web firm's board, it was thought they might mount some kind of hostile takeover, sidestepping the board and wooing shareholders directly. The prospect of a hostile bid saw the Yahoo! share price boom, so when Microsoft announced no hostile bid would now be happening it slumped.
Yahoo! have announced that they will have their annual shareholders meeting on 3 Jul, and it is expected to be a heated affair, with some key shareholders believing the company buggered up what could have been a good acquisition - good for Yahoo! shareholders if not their board.