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More action in Microsoft/Yahoo saga

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Just when you thought it was safe … it looks like the Microsoft/Yahoo takeover saga could be back on the cards. This time, the Wall Street Journal reports that Microsoft is looking for media partners to join it in a renewed onslaught.

The Journal says that Microsoft could be renewing its bid, but this time with the support of media partners – it's apparently been talking to both Time Warner and News Corp.
The big difference this time around is that a new bid could look at breaking Yahoo up, with Microsoft walking away with the search elements and a media partner taking the advertising sections of the company.
Meanwhile, the current Yahoo board is lobbying shareholders ahead of the AGM on 1 August, to explain why they rejected the Microsoft offer in the first place.
A number of shareholders were angry at the move, and it prompted activist investor Carl Icahn to buy into Yahoo and press for the board's removal.
Yahoo board members have put together a 32-page document elaborating on the reasons they turned Microsoft down.