Microsoft withdraws offer for Yahoo

[JanErikFl]

Source: Reuters

SAN FRANCISCO (Reuters) - Microsoft Corp (MSFT.O) has withdrawn its offer for Yahoo Inc (YHOO.O) and does not plan to go hostile, a person familiar with Microsoft's thinking said on Saturday.

Microsoft raised its offer by $5 billion to $33 a share, but Yahoo wanted $37 a share, this person said.

Microsoft Chief Executive Steve Ballmer has sent a letter to Yahoo Chief Executive Jerry Yang withdrawing the offer, the person said.



Read more: http://news.yahoo.com/s/nm/20080504/bs_nm/microsoft_yah...

[Deja Q]

1. !

At least there was no attempt at a hostile takeover. I do not believe it would have gone through.

[gristy]

2. Sounds like the right decision.

[ckramer]

3. Yahoo will go back to 20$/share soon

The shareholders will be mad.

[Warren Stupidity]

5. That sounds right to me.

msft was going to drastically overpay for an asset that is diminishing in value.

[paparush]

4. I hope that is the Last, Final, and FinallyLast word on this. nt

[techtrainer]

6. It will have to happen eventually.

[paparush]

12. Yeah, when Yahoo's stock falls back below $20 and Yang is run out of town on a rail..

[cliffordu]

7. THANK GOD.

Fuck microsoft and double fuck ballmer

[dbonds]

8. What most people don't realize...

is Yahoo has a Web 2.0 platform that is pretty nice - although not the only platform in town. MS would be paying mostly to get a jump start on that technology. Although google has done a lot of work in that area too, as well as jquery. I still think extjs should be the class library though.

[onehandle]

9. Good. Fuck Microsoft. nt

[Doctor Cynic]

10. Pity the suckers who bought Yahoo a few weeks ago!

[Ian David]

11. This is very bad news. This means Rupert Murdoch's NewsCorp will buy it.

As soon as it looks like that is going to happen, it's time to disband your Yahoo groups and unsubscribe from everything to protect your privacy.