The fall of two?

Does the abandonment of the Yahoo! merger by Microsoft mean a fall of two rather than just one. Let's be honest could Yahoo! really actually accept the merger deal? Wouldn't that mean it has accepted defeat, especially for Mr. Yang who has only recently come on board in the last year or so? Seems like the struggle of the power ego's may continue based on Yang's interest in continuing talks. But Ballmer has already called this off once. Is it Microsoft playing hard to get or is it Yahoo!? Who has the most to lose? I say both.