May 3, 2008
Microsoft Walks Away From Yahoo!
So, it's come to this. Microsoft negotiated with Yahoo!. It offered to raise the bid from $31 to $33 a share. That's $47.5 billion. Steve Ballmer earlier made the statement that he knew how much Yahoo! was worth to Microsoft and would offer a dime more. Yahoo! wanted $37 per share, or $51 billion. Microsoft dropped the bid and walked away from the deal. For now. Cue the inevitable shareholder lawsuits. (Some lawyer somewhere must be thinking about it.) Lets see how conditions play out in the coming months. Who knows? These two may still cozy up now that the initial shock is over.
Here's the brief announcement from the AP via the Chicago Tribune.
May 3, 2008 | Permalink
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