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Let's Twist Again!

Wednesday, 2 Jul 2008 | 3:48 PM ET

There's a new twist in the Microsoft Yahoo saga and it sent shares of the Internet firm soaring. Should you hop on?

Yahoo shares spiked on Wednesday after The Wall Street Journal reported Microsoft might team up with another media company in its quest to buy Yahoo's search business.

The paper reported Microsoft has spoken to News Corp.,Time Warner and others about a way to complete the proposed deal, which the software maker has been exploring since withdrawing a $47.5 billion bid to buy Yahoo in its entirety in May.

“Sounds good,” writes CNBC’s Jim Goldman in his blog. “Yahoo, or at least a chunk of it, is back in play. But the next paragraph, not buried deep in the story, but the VERY next sentence, says, "Microsoft has held discussions with Time Warner Inc. and News Corp., among others, say some people involved in the discussions. These people say the talks are unlikely to result in a deal."

Goldman goes on to say that none of his sources think a deal is likely either.

And I’m not seeing any options action in any of these names to suggest a deal anytime soon, adds Jon Najarian on CNBC’s “Closing Bell.”

Why the stock stock market is so excited remains a mystery.


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