Yahoo made its case -- yet again -- for why they company is better off without Microsoft and the ways in which squeaky-wheel shareholder Carl Icahn is just plain wrong.
The company said in a shareholder presentation (filed with the SEC) that Microsoft's offer to buy the search business would "not benefit Yahoo financially or strategically and is based on flawed assumptions."
Yahoo went on to bash Microsoft's conduct during negotiations, calling the company "unresponsive and inconsistent," and said Microsoft only indicated a willingness to up the price after they had been in negotiations for a few months. And even then, says Yahoo, Microsoft wavered -- first it verbally offered to raise the bid by a "few" bucks and then it said it would only raise the offer by a "couple" bucks per share.
"The record casts doubt on whether Microsoft was ever committed to a whole company acquisition," the presentation said.
Either way, it didn't seem like Yahoo buttered up any shareholders -- the stock fell another 3 percent during today's trading session.
