Posted 5/4/2008 at 12:25 PM By GamingShogun
According to CNN Money, Microsoft has officially withdrawn its bid to buy Yahoo today. Microsoft had apparently increased their buyout offer to $33 dollars a share, which is roughly 70% above its original offer despite declining stock prices of both Microsoft and Yahoo.
Microsoft CEO Steve Ballmer had this to say:
'After careful consideration, we believe the economics demanded by Yahoo do not make sense for us...'
Bookmark & Share:
