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Further Tales of Microhoo Incompetence

The WSJ reports today not only that some kind of Microsoft-Yahoo deal might be on again, but also that:

In mid-May -- weeks after Microsoft withdrew its bid -- Yahoo offered to sell itself to Microsoft for about $33 a share, a price Yahoo had earlier rejected, say people familiar with the talks. Microsoft rebuffed the advance.

Could this whole episode get any more Keystone Kops? Oh yes it could, the minute you read the details of exactly what happened, where it seems that more attention was paid to color signals than to price signals:

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