Software maker says economics demanded by Internet portal operator 'do not make sense.'
Microsoft Corp. said Saturday it has withdrawn its proposal to acquire Internet portal Yahoo Inc.In a statement, Microsoft (MSFT, Fortune 500) CEO Steve Ballmer said "After careful consideration, we believe the economics demanded by Yahoo (YHOO, Fortune 500) do not make sense for us."
CNN
Microsoft says it's dropping its three-month-old bid to buy Yahoo because the two sides can't agree on an acceptable sale price.
Microsoft Chief Executive Steve Ballmer says in a letter sent to Yahoo on Saturday that the software maker was willing to pay $47.5 billion for Yahoo. That's $33 per share.
Ballmer says Yahoo insisted that Microsoft pay at least $53 billion. That's $37 per share.
Microsoft's original offer was $44.6 billion, or $31 per share.
latimes
Microsoft Corp. said Saturday it has withdrawn its proposal to acquire Internet portal Yahoo Inc.In a statement, Microsoft (MSFT, Fortune 500) CEO Steve Ballmer said "After careful consideration, we believe the economics demanded by Yahoo (YHOO, Fortune 500) do not make sense for us."
CNN
Microsoft says it's dropping its three-month-old bid to buy Yahoo because the two sides can't agree on an acceptable sale price.
Microsoft Chief Executive Steve Ballmer says in a letter sent to Yahoo on Saturday that the software maker was willing to pay $47.5 billion for Yahoo. That's $33 per share.
Ballmer says Yahoo insisted that Microsoft pay at least $53 billion. That's $37 per share.
Microsoft's original offer was $44.6 billion, or $31 per share.
latimes
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