Why Yahoo Passed On Microsoft's Search Deal (New Details!)

Actually, it doesn't explain why Yahoo! passed up on the offer - nothing does.

As a publicly-traded company, Yahoo!'s number one goal is required to be that they keep their stock prices going. Microsoft's deal was for more lucrative, but Yahoo! turned it down (yet again) for murky-clear reasons that aren't backed by numbers or facts - just Jerry Yang's insistence that "Yahoo! can do better."

(Note: I'm glad the deal didn't fall through, IMHO, it would've been the end of both MS and Yahoo!)