Massive merger crumbles. Microsoft Saturday revoked its bid for Yahoo (YHOO) after the latter rebuffed an increased offer of $33/share. Microsoft says it will go at it on its own, while Yahoo hopes to enter a search-ad deal with Google (GOOG). Still to be seen: Is the move a ploy by Microsoft, which hopes to snatch up Yahoo for even cheaper down the road? Will Yahoo face massive shareholder lawsuits? Shares of Yahoo are down 23.7% in early pre-market trading.
What to do with $46B. Sources say Microsoft (MSFT) is mulling over what to do with the $46B it saved. Options include acquiring a social networking site, and initiating a massive share repurchase.
Deutsche Telecom mulls bid for Sprint. Deutsche Telekom (DT) may make a bid for Sprint Nextel (S). The move would catapult Deutsche Telecom's T-Mobile USA from #4 to the number-one wireless provider in the country, surpassing AT&T (T) and Verizon Wireless (VZ) (VOD). A deal may still be months off, and some insiders call it a longshot.
Buffett pans Berkshire. "Anyone who expects us to come close to replicating the past should sell their stock. It's not gonna happen," Berkshire Hathaway (BRK.A) CEO Warren Buffett said at Saturday's annual shareholders' meeting. "You may have something better to do with your money than buy Berkshire." Buffett said the Fed's move to bailout Bear Stearns (BSC) prevented a major run on investment banks. "The idea ...
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