Yahoo has scheduled a special board of directors meeting on Friday to determine, effectively, the fate of the company. After a week of hectic negotiating, it’s clear that no one is going to step in with a competing acquisition offer to what Microsoft put on the table last Friday - $31 per share. Softbank, the last real chance for a competing bid, bowed out today and said they would not be challenging the Microsoft offer.

It’s fairly certain that Yahoo will continue to use the threat of a deal with Google to try to increase Microsoft’s offer a few dollars per share. But the threat isn’t (or at least, shouldn’t be) real, and both sides know it. Read on...