Something foul in Denmark

A little over an hour ago, Microsoft announced it is making an unsolicited bid to buy Yahoo. Microsoft is bidding $44.6 billion dollars for Yahoo, or $31/share — a 60% premium over Yahoo’s closing price of $19 on Thursday. Yahoo’s stock price opened at $28 this morning, before the offer was announced — obviously a case of insider trading. But I guarantee the SEC will turn a blind eye to Yahoo’s overnight 50% stock jump on the eve of their largest news announcement ever. It seems that unless your name is Martha, you will never be a investigated target for insider trading. How much more blatant can it be?