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Microsoft refuses to raise Yahoo bid;my not go for merger

April 23rd, 2008 by Kiyani ~ No Comments

MILAN, ITALY - “We are offering a lot of money. If Yahoo’s shareholders like it, that’s great,” Steve Ballmer CEO Microsoft Corp. said at a conference in Milan, Italy. “We are prepared to go forward without a merger with Yahoo.”
He said they have no plans to raise $44.6 billion offer for Yahoo! Inc.

Yahoo Inc board based in Sunnyvale, California rejected the offer in February 2008, saying the bid was too low. In response Microsoft said it will take the bid directly to Yahoo’s shareholders.
Microsoft has been eying Yahoo in an effort to counter Google Inc. in online search and advertising, On the question if Microsoft is interested in buying Google, Ballmer replied this is out of question at the moment because it will be too expensive plus there would be regulatory and antitrust concerns.

Microsoft fell 17 cents, or 0.6 percent, to $30.25 in Nasdaq Stock Market trading yesterday. The shares have fallen 15 percent this year.

Yahoo fell 1 cent to $28.54 yesterday and the stock has risen 23 percent this year. While shares of Google rose $17.21, or 3.2 percent, to $555 yesterday. The shares have fallen 20 percent this year.

Categories: Business/Finance ~ Computers/Internet


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