Yahoo!
Microsoft walked away from a bid to acquire Yahoo when its increased, $45-plus billion offer was rebuffed by the pioneering Internet company as not enough by half.
The surprise Saturday announcement came after a week of tense negotiations and about three months after Microsoft informed Yahoo that it intended to buy it, the better to compete with internet ad behemoth Google.
“Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo! has not moved toward accepting our offer. After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal,” said Steve Ballmer, CEO of Microsoft in a prepared statement.
[source]
Apparently though, this is not the last we will here about this deal.
Related posts:
In your Face
Amjad Mahfouz
May 5, 2008 @ 10:00 am
I think YAHOO lost a good deal and microsoft saved a bundle of money, i suspect Yahoo stock will start plunging next year for the favor of Google & Microsoft, but who am I to predict….
thx for the share
m7md
May 5, 2008 @ 12:30 pm
you just wrote about his days ago ..
when i first read the news , I really laughed, no way they can buy yahoo !! .. and yahoo is trying its best to compete with google, according to alexa.com yahoo is still on top with visitors , still .. google services are more relaxing ! :s