Microsoft Withdraws Yahoo bid

Posted on May 4, 2008 at 10:01 pm.
Filed Under Business |

Microsoft announced today that it has withdrawn its proposal to acquire Yahoo! Inc. In a final meeting occurred today at Microsoft headquarters, Yahoo said the lowest price they could accept was $37/share. Microsoft said that the economics demanded by Yahoo! do not make sense for them. Microsoft made a public offer to buy Yahoo on Jan. 31 this year. Both Microsoft and Yahoo have struggled to compete with Google for the billions of online advertising dollars.

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