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Microsoft's chief strategy officer Craig Munde told reporters yesterday that the Yahoo merger is off for good — he "assumed", before putting the ball back in Yahoo's court:

The market may wish that the Yahoo deal may come back together, but Microsoft at least at this point assumes it's over. Yahoo could always come back again and say please buy us for $33 (a share) and I'm sure we might reconsider it but we're not assuming that's going to happen