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Yahoo share dropped 25%

Discussion in 'General Discussions and Lounge' started by temi, May 5, 2008.

  1. temi

    temi Facilitator Webmaster

    Yahoo's shares plunged by almost 20% in New York after software giant Microsoft scrapped its three-month-old bid to buy the internet firm.
    The deal collapsed after the two sides could not agree on the sale price.
    Microsoft boss Steve Ballmer formally withdrew the offer in a letter this weekend to Yahoo's head, Jerry Yang.
    Yahoo shares pared some of their losses to close 15.6% down at $24.22, erasing a big chunk of the 50% gain made since the takeover approach.

    source/full story

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