Of course it was just the opening salvo in what promises to be a long dance and lucrative (for somebody) dance.

Microsoft's offer to buy Yahoo! was rejected by Yahoo!'s Board of Directors. Here's the email Jerry Yang sent to employees, courtesy the Wall Street Journal. 

Here's the Take Action Memo. You will have to login (register if you don't have a login) to access this.

What's a Take Action Memo? 

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