Micorosoft Not Taking Over Yahoo
Microsoft has previously warned Yahoo that it will lower its offer if Yahoo fails to come to an agreement within three weeks. Now Microsoft has officially pulled out its bid for Yahoo.
Microsoft’s Steve Balmer wrote to Yahoo’s shareholders, “While there has been some limited interaction between management of our two companies, there has been no meaningful negotiation to conclude an agreement”. Read Yahoo’s response to Microsoft pulling out of the merger.
Jerry Yang, co-founder and chief executive officer, Yahoo! said, “I am incredibly proud of the way our team has come together over the last three months. This process has underscored our unique and valuable strategic position. With the distraction of Microsoft’s unsolicited proposal now behind us, we will be able to focus all of our energies on executing the most important transition in our history so that we can maximize our potential to the benefit of our shareholders, employees, partners and users.”
