Good, bad or indifferent?

The WSJ provides some pretty good coverage on why the Microhoo! offer is good / bad value: good because, at $31 a share, it represents a 62% premium from Yahoo’s close at $19.18 last Thursday; bad because Yahoo shares traded at $33.63 as recently as October 26th. And in addition, Yahoo holds cash and shares in publicly traded companies, with a total market value of more than $12 per Yahoo share.
PS good to see The Standard back (although the new incarnation seems to be as much a prediction market as a news source.) Coverage of Microhoo! here, here and here.