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Yahoo Inc.’s decision to thwart Microsoft Corp.’s overture didn’t exactly create an overwhelming sense of euphoria for those at Google. “Probably everybody watching this would assume Yahoo would reject,” says one of Google’s lawyers. “When you’re selling a car you’re not going to take the first offer if you think you can get a bit more money.” Mergers and acquisition lawyers agree. They say Microsoft is still in the position of deciding how much it wants to pay. Yahoo’s board said the company is worth $40 a share. Microsoft had offered $31. Lawyers say that leaves lots of middle ground to negotiate. To get a sense of the players and strategies involved, go here for Legal Times’ package of stories on the merger proposal.
Nathan Carlile can be contacted at [email protected]. This story originally appeared on The Blog of Legal Times.

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