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We continue to believe that the Yahoo deal is an expensive way of growing the online business for Microsoft,” wrote Sid Parakh, an analyst with McAdams Wright Ragen, in a research note. “The 14 percent decline in Microsoft’s stock price (since its announcement of intent to acquire Yahoo) has wiped out over $43 billion (or 98 percent of its offer for Yahoo!) in shareholder wealth. Add to that the likely scenario in which Microsoft pays [roughly] $50 billion for Yahoo, Microsoft is essentially paying $93 billion for Yahoo.

Microsoft’s Next Move: How High Can It Go? (via bijan)