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Microsoft abandon bid for Yahoo

Discussion in 'General Webmaster Helpdesk' started by temi, May 4, 2008.

  1. temi

    temi Facilitator Webmaster

    Software giant Microsoft has dropped its three-month-old bid to buy internet firm Yahoo because the two sides cannot agree on an acceptable sale price.
    Microsoft chief executive Steve Ballmer formally withdrew the offer in a letter to Yahoo chief executive Jerry Yang.
    Mr Ballmer said Microsoft had raised its original offer from $44.6bn to $47.5bn (£24.1bn) - $33 per share.
    But he added that Yahoo had insisted on at least $53bn, or $37 a share - more than Microsoft was prepared to pay.
    The software giant had wanted to do a deal to be able to compete with Google, which dominates the lucrative market for internet advertising.

    source: bbc

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