Microsoft Withdraws Yahoo Offer
After Sweetened Bid Is Rejected
By KEVIN J. DELANEY, MATTHEW KARNITSCHNIG and ROBERT A. GUTH
May 3, 2008 9:40 p.m.
Microsoft Corp. said it abandoned its offer for Yahoo Inc., as the two companies failed to bridge a gap between them on price.
Microsoft released a letter from Chief Executive Steve Ballmer to Yahoo CEO Jerry Yang saying that Microsoft had said it was willing to raise its offer to $33 a share for Yahoo, but Yahoo demanded at least $4 per share more.
looks like stevie is calling jerry out, this can't be the final chapter of this book (can it?). will he go back after yhoo drops to pre bid levels as investors unload the truck?
