Finance / United States
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Microsoft Walks As Yahoo Rejects Third Offer
May 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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After twelve weeks of negotiating and three rejected bids, Microsoft finally decided that it had had enough and abandoned its ambitious bid to acquire Yahoo. The announcement followed a meeting in Seattle between Microsoft's Chief Executive Steven Ballmer, and Yahoo's chief executive and co-founder, Jerry Yang, in which the two could not decide on a sale price, even after Ballmer increased Microsoft's offer from US$29.40 a share to US$33.00. This valued Yahoo at about US$47.5bn, US$5.0bn more than the original offer, but Yang told Ballmer that he would not accept a bid below US$53.0bn, or $37.00 a share, which ultimately