After farther negotiation with Yahoo, Microsoft decide to give up the fight to obtain Yahoo. The final bid that Microsoft offer was $42.3 billion and they were to pay up to 47.5 billion. Yahoo demanded at least $53 billion accordingly to Steve Ballmer, Yahoo's stock price of $19.18 at the time Microsoft first made its bid a little over three months ago.
Steve Ballmer said after careful consideration, we believe the economics demanded by Yahoo do not make any sense to us. In the interest of Microsoft stockholders, employers and stakeholders to withdraw our proposal.
Sunday, May 4, 2008
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