Some of his phrasing is glib and he applies broad brush strokes occasionally, but John Dvorak is essentially correct as to why Microsoft should not and will not acquire Yahoo.
I touched on similar points in an earlier post on this forum. The Merrill Lynch analyst’s musings on such a pairing were wet-dream reveries of an investment banker hoping for an early Christmas. It’s not going to happen, folks. If you’re investing in Yahoo, you should have better reasons than wishful thinking about a Microsoft acquisition.