Deals that are based on stock transfers are always of unknown value until the day the deal closes.Until then it is all just quantities.
This is the dance of Love between two busineeses and when the bid is unsolicited ,therefore hostile,negotiations can be protratracted.
After all who wants to form a partnership with a terminally infected mate ?

Who do those Yahoos think they are?

.. that's a convenient explanation. :) Perhaps some inter-capping to make it look less like a spelling blunder?

Obviously Yahoo's board is not acting according to common sense. 
Other than pride, or an antique sense of right and wrong what king of possible sound business thinking is involved here?

In one simple foolish act they have cost shareholders alot of money. Why are they so reluctant to get a good deal & get paid enough to make a baseball park in their bathroom??

Please do tell, how much more is yahoo worth over the original offer? 10%?

Besides the 13% drop, Yahoo is declining, and has been for some time.

Dear Yahoo, wake up.

Revolt. :)

AST adds: Re Vole t. It's a pune or play on words.