Saturday, May 03, 2008

Is it over? Microsoft pulls bid

From the NY Times:
"Microsoft said Saturday that it was abandoning its blockbuster bid to
acquire Yahoo after it raised its offer by $5 billion but Yahoo rejected it as
still too low.....

“Despite our best efforts, including raising our bid by roughly $5 billion,
Yahoo has not moved toward accepting our offer,” Mr. Ballmer said in a
statement. “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.”....The breakdown in the talks is likely to send Yahoo’s
shares plunging, and Mr. Yang and his team will have to decide how to placate

Stay Tuned

1 comment:

The Shark Investor said...

Now just watch how the Yahoo share prices go down and down...