Microsoft Bid for Yahoo Withdrawn - New York Times

Is $4/share (about 12%) really the end? From the New York Times

The talks culminated in a final meeting on Saturday in which Mr. Yang flew to Seattle to meet with Mr. Ballmer. Mr. Ballmer stuck to his $33 price, and Mr. Yang said Yahoo’s board would accept $37 a share. Hours later, Mr. Ballmer sent Mr. Yang the letter saying Microsoft would withdraw its bid.