Microsoft's CEO rules out takeover of Yahoo

Microsoft CEO Steve Ballmer is unwilling to renew his takeover bid for Yahoo. His company made two offers but Yahoo clearly wasn't interested, he said. Microsoft has now moved on, said Ballmer according to media reports in Sydney. There is, however, the possibility of a joint venture in the search engine service sector, said the CEO.

After search engine leader Google backed out of a planned partnership with Yahoo following objections by the US antitrust authorities, Yahoo's CEO Jerry Yang signalled his openness for a new bid by Microsoft. He said a takeover "isn't a bad idea" at the right price. Microsoft made a takeover bid in February of $31 per share and later increased it to $33 per share. This bid was rejected by Yang.

(trk)