Microsoft this morning made a $44.6 billion hostile bid for the floundering Yahoo, striking at a point when it has become evident to all and sundry that Yahoo doesn't have a pray of turning things around on its own let alone getting competitive. Yahoo's first official reaction was basically to say it'll think about it. It said it would evaluate the offer 'carefully and promptly in the context of Yahoo's strategic plans.' It did not give a timeframe for a response. Although it looks pretty boxed in, it could of course try for more money. More info