As the Microsoft-Yahoo world turns, part 5 of n

Did you really think the stream of news would die down because Yahoo rejected Microsoft’s buyout bid? Really?

Here are the story lines that have emerged since Yahoo made its announcement Monday morning.

• Ina Fried remains on top of this story. Her latest chapter examines Microsoft’s acquisition history, from WebTV and Hotmail in the late 90s to this year’s FAST purchase. There are two key differences between those acquisitions and the Yahoo bid — those companies were much smaller than Yahoo, and they offered services that did not overlap with what Microsoft already did.
• Yahoo investor Legg Mason wants Microsoft to raise its offer, simultaneously suggesting that Microsoft’s initial bit undervalues Yahoo and that Yahoo has few options left. (Reuters via InternetNews.com)
• Perhaps embracing the “anything you can do, I can do better” mantra, Yahoo expanded its mobile services and inked a deal with T-Mobile. Recall that, earlier this week, Microsoft expanded its mobile development platform and bought Danger Inc., maker of the Sidekick mobile phone.  InternetNews.com)
• Speaking at the Office Systems Developers Conference, Bill Gates said Yahoo gives Microsoft scale so it can take on Google. Raise your hand if that surprises you. Anyone? (ENT News)

We’ll let you know if anything else happens.