Published on Mon, May 05, 2008 at 17:17 | Source : CNBC-TV18
Updated at Mon, May 05, 2008 at 18:12
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Microsoft drops Yahoo! bid
Microsoft has withdrawn it's offer for Yahoo!, reports CNBC-TV18. On May 3, Microsoft CEO Steve Ballmer met the founders of Yahoo!: Jerry Yang and David Filo. At the meeting, Microsoft raised its bid to USD 33 a share from USD 29. 40 a share. Yahoo! rejected this offer too saying that anything below USD 37 a share is unacceptable.
Microsoft has withdrawn it's offer for Yahoo!, reports CNBC-TV18. On May 3, Microsoft CEO Steve Ballmer met the founders of Yahoo!: Jerry Yang and David Filo. At the meeting, Microsoft raised its bid to USD 33 a share from USD 29. 40 a share. Yahoo! rejected this offer too saying that anything below USD 37 a share is unacceptable.
With the unraveling of Microsoft's plans to takeover Yahoo!, reports suggest that Time Warner's internet arm AOL has approached Microsoft for a possible tie-up. While AOL is an online property similar to Yahoo!, it is also significantly smaller. And though even Yahoo! had been exploring a defensive tie-up with AOL's internet operations, it may now have to contend with a competing offer from Microsoft.
