Maybe Microsoft wants:
1. Email Client. I guess that means Microsoft knows how jacked up Hotmail is.
2. Search Engine. Maybe the Microsoft ego thinks it can outrun Google.
3. Monopoly Lust. Desire for world domination.
4. Apple Pressure. Feeling world domination slipping.
5. Be All Things To All People. Specialized and make something work well? What have you been smoking??? Microsoft does not have the words "specialize" or "work well" in their software catalog.
Imagine a few results if Microsoft acquires Yahoo:
1. Email that crashes regularly.
2. Email, search, news, maps, calendar, media player, etc all seamlessly integrated, but nothing works unless you install the latest fixes.
3. More Microsoft bugs. Great opportunity to send them error messages so they can produce more fixes. All of us "allowed" to be honorary software engineers helping them debug their software.
4. Email DLLs.
5. More propaganda about why we should all be riding Vista into the sunset.
6. This list never ends.....