If you like Yahoo in its current form you should take some pictures for posterity - it's not going to last long.
Microsoft is back in the catbird seat. They have no reason to pay anywhere near their original offer and may be able to get only the parts of Yahoo that they want at a better price.
Icahn is in a tougher spot but he has a lot of skin in the game and is going to force the issue. If the Yahoo Board isn't already paying attention then they are in for a rude awakening, and I don't think a shotgun wedding with AOL is going to do the trick.
Yang and company had lots of ways that they could have orchestrated a better outcome than the one they're headed for. It's too bad.
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