Unless you were living under a rock this weekend you must have heard that one of the potentially largest deals in the technology sector fell apart.

On Saturday, Microsoft withdrew its two month old bid to takeover Yahoo. The crux of the pullout was that Microsoft was only willing to pay $31 per share and Yahoo’s board of directors contended that the company was worth at least $35 per share.

The failure of a deal to go through puts Microsoft in a position of still searching for a way to more effectively compete with search giant Google in both search and online advertising. Industry watchers say that Google is likely to continue to expand its reach as Microsoft plots a new course to catch up.

Wall St. didn’t look favorably on Yahoo’s decision not to budge on share price. Yahoo stock fell to more than $6 to about $22 per share in after hours trading over the weekend. If that drop holds, it would be the largest in history for Yahoo, which sold shares to the public in 1996.

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