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Microsoft dashes hostile Yahoo takeover hopes

In a letter from software giant Microsoft's lawyers at Sullivan & Cromwell to proxy board members, the company rescinded the agreements it had struck in case of a hostile take-over bid for Web search pioneer Yahoo. But hey, with Yahoo CEO Jerry Yang now begging for deal with tail tucked and head down, the companies may still agree to a friendly take-over bid. [WSJ]

8:20 AM on Fri May 9 2008
By Jackson West
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