News Microsoft walks away from Yahoo

[Tefra]

Software giant Microsoft has dropped its three-month-old bid to buy internet firm Yahoo because the two sides cannot agree on an acceptable sale price. Microsoft chief executive Steve Ballmer formally withdrew the offer in a letter to Yahoo chief executive Jerry Yang.

Mr Ballmer said Microsoft had raised its original offer from $44.6bn to $47.5bn (£24.1bn) - $33 per share. But he added that Yahoo had insisted on at least $53bn, or $37 a share - more than Microsoft was prepared to pay. The software giant had wanted to do a deal to be able to compete with Google, which dominates the lucrative market for internet advertising.

Source: bbc.co.uk

[valyaji]

I think Microsoft will buy yahoo he will increase his bid for purchase...