Saturday, May 3, 2008

BREAKING: Microsoft pulls Yahoo offer

MSNBC is reporting:

  • "A spokesman for Microsoft Corp. says the software giant is walking away from its offer to buy out online portal Yahoo Inc. On Friday, Microsoft had indicated a willingness to raise its $31-a-share cash and stock offer by several dollars a share, a person familiar with the company's thinking had said. The original offer, made public Feb. 1, was currently valued at about $42 billion, but each $1 per share increase would boost the value by $1.4 billion. Talks were widely described as sensitive."

So much for the concept of "Micro-hoo." I'm sure Google is grinning from ear to ear right now.

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