The Microsoft/Yahoo negotiation is in a very public phase right now. In its latest letter, the Yahoo board makes two references to “certainty,” in one case spelling out that this encompasses “certainty of value” and “certainty of closing.”
It’s hard to imagine what the former could mean other than “Please make an all-cash offer (or, better yet, go away).” But I previously noted, Microsoft can indeed afford to buy Yahoo entirely for cash.
The latter part is a reference to the antitrust boogeyman, obviously a non-trivial concern whenever Microsoft is involved.
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