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MSFT offered $44.6B for Yahoo at $31 per share four years ago.Do a simple calculation here:$44.6B / $31 = 1.438B shares outstandingNow yahoo outstanding shares is only at $1.24B.Yahoo bought back almost 200M shares during the past four years.
ummmm, Yahoo revenue and earnings have DECLINED SUBSTANTIALLY since MSFT made their offer.
The revenue declined partially due to MSFT search deal.But look at the net income!!! 2010 2009 2008Net Income 1,231,663 597,992 424,298 With this MSFT search deal, Yahoo could wait for Alibaba IPO as long as it wants and maintain high profit and positive cash flow. I bet Alibaba group couldn't wait much longer to go to IPO due to its severe challenge in China.
Yahoo is very undervalued.