Microsoft Pulls Offer for Yahoo

By Deane Barker on May 4, 2008

Microsoft says proxy battle not worth it: And that’s the end of that.

In a letter to Yahoo CEO Jerry Yang, Microsoft chief Steve Ballmer confirmed that Microsoft was willing to offer $33 a share, but that Yahoo was holding out for at least $37 a share, or $5 billion more than Microsoft was prepared to spend. In the letter, Ballmer also says he is ruling out a direct offer to shareholders.



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