I agree and logically it makes no sense, since what is the limit? Theoretically everyone will sell at some point and the above argument can be made in each and

I agree and logically it makes no sense, since what is the limit? Theoretically everyone will sell at some point and the above argument can be made in each and every case. Let's say Yahoo had offered Google $1B, and Google declined, Yahoo ups its offer to $2B, Google still declined.. this can go on forever till we reach Yahoo's maximum capacity to pay and if Google still declines with: it's not enough - the above argument would still hold. Thus, IMHO, the above argument has no merit. While price is certainly a very important factor, there are always other underlying issues as to why some sell and others don't.