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Microsoft withdrew its proposal to acquire Yahoo, Microsoft CEO Stephen Ballmer said in a letter to Yahoo.

“We continue to believe that our proposed acquisition made sense for Microsoft, Yahoo! and the market as a whole. Our goal in pursuing a combination with Yahoo! was to provide greater choice and innovation in the marketplace and create real value for our respective stockholders and employees,” said Steve Ballmer, chief executive officer of Microsoft.

“Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo! has not moved toward accepting our offer. After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal,” said Ballmer. Read the rest of this entry »Tags:Microsoft, Yahoo

“We sent them a letter and said we think that’s a fair offer. There’s nothing that’s gone on other than us stating that we think it’s a fair offer,” the Microsoft chairman said Monday. “They should take a hard look at it.”

Gates’ comment Monday was in response to a question during a phone interview about an unrelated effort to give students free access to certain Microsoft software. Read the rest of this entry »Tags:Bill Gates, Microsoft, Money, Yahoo

Tech giants Google, IBM, Microsoft, VeriSign, and Yahoo! have joined the board of the OpenID Foundation, the organisation set up to facilitate access to multiple online services with a single username and password.  OpenID eliminates the need for multiple Read the rest of this entry »Tags:Google, Microsoft, OpenID, OpenID Foundation, Password, Usurname, Yahoo

Yahoo’s board of directors plans to reject Microsoft’s $44.6 billion hostile bid with a letter Monday saying the offer undervalues Yahoo, a person familiar with the matter said Saturday, Read the rest of this entry »Tags:Google, Microsoft, Stocks, Yahoo

Microsoft has offered to buy the search engine company Yahoo for $44.6 billion in cash and shares. Yahoo has been struggling in recent years to compete with Google, which has also been a competitor to Microsoft.  Yahoo shareholders would receive $31 a share, which represents a 62% premium above the closing price of Yahoo! common stock of $19.18 Read the rest of this entry »Tags:Google, Microsoft, Stocks, Yahoo