Microsoft replays its overtures to Yahoo

Microsoft clearly doesn't know when to quit, and it's an approach which could pay dividends. After their initial attempts to buy out Yahoo were rebuffed earlier this year, they've now returned for only part of the company. The other difference is that the investor Carl Icahn now owns a hefty stake in Yahoo, and is leading a pro-Microsoft movement among shareholders. All of which means that Microsoft is much more likely to achieve its goals this time around.

But it's difficult to think that Microsoft's goals will end there. Their official statement hardly conceals the fact that they'll move for all of Yahoo in future:

“Microsoft is not proposing to make a new bid to acquire all of Yahoo at this time, but reserves the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo or discussions with shareholders of Yahoo or Microsoft or with other third parties.”

I imagine Gates & Co. will be hoping that they can reach some kind of tipping point. With part of Yahoo potentially in the bag – and with the energetic support of Icahn – I wouldn't bet against the rest falling into their hands.

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