Steve Ballmer says acquisition discussions with Yahoo are over
Following the departure of Jerry Yang, the firm's co-founder and determined opponent of Microsoft's takeover bid, some observers thought that Yahoo would immediately leap into bed with Microsoft. But Microsoft has no wish to get the wedding bells ringing again, and has responded with a clear "no" to renewed speculation about a taking Yahoo over. However, Microsoft's Steve Ballmer told the company's general meeting of shareholders he was open to a partnership in online searching. According to a dpa report, he emphasised that there were currently no negotiations being carried on for that purpose.
When Jerry Yang's resignation from Yahoo was announced at the start of the week, it was immediately rumoured that a purchase by Microsoft was now still possible. Yang had most recently rejected an offer this summer of more than $45 billion. Shareholders were sharply critical and in the end gave Yahoo's co-founder the shove.
Ballmer is now quoted as saying to Microsoft shareholders, "Let me make something clear: we are through with talks about buying Yahoo." Regarding cooperation in the search-engine business, on the other hand, he said, "We are very open." Microsoft wanted to take Yahoo over in order to break Google's dominance in the booming business of advertising associated with online searches. After a lot of to-ing and fro-ing and repeated rejection of Microsoft's offer by Yang and the Yahoo management, Microsoft withdrew its offer.
- Yahoo boss Yang’s resignation sends shares soaring
- Yahoo boss Yang resigns
- Microsoft's CEO rules out takeover of Yahoo