Microsoft withdraws offer for Yahoo
Posted by Mysterygrimms | Under Tech News Sunday May 4, 2008SAN FRANCISCO (Reuters) - Microsoft Corp (MSFT.O) walked away from its bid to buy Yahoo Inc (YHOO.O) on Saturday after the Internet company turned down its offer to raise the price by $5 billion to $47.5 billion.
Microsoft’s offer was for $33 a share but Yahoo would not lower its demand below $37, Microsoft Chief Executive Steve Ballmer said. The software company initially bid $31 per share for Yahoo more than three months ago.
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