Yahoo's shares are expected to fall when markets open on Monday
Software giant Microsoft has dropped its three-month-old bid to buy internet firm Yahoo because the two sides cannot agree on an acceptable sale price.
Microsoft chief executive Steve Ballmer formally withdrew the offer in a letter to Yahoo chief executive Jerry Yang.
Mr Ballmer said Microsoft had raised its original offer from $44.6bn to $47.5bn (£24.1bn) - $33 per share.
But he added that Yahoo had insisted on at least $53bn, or $37 a share - more than Microsoft was prepared to pay. . . . . read more
Software giant Microsoft has dropped its three-month-old bid to buy internet firm Yahoo because the two sides cannot agree on an acceptable sale price.
Microsoft chief executive Steve Ballmer formally withdrew the offer in a letter to Yahoo chief executive Jerry Yang.
Mr Ballmer said Microsoft had raised its original offer from $44.6bn to $47.5bn (£24.1bn) - $33 per share.
But he added that Yahoo had insisted on at least $53bn, or $37 a share - more than Microsoft was prepared to pay. . . . . read more
No comments:
Post a Comment