Latest in Acquisition

Image credit:

Microsoft pulls bid for Yahoo!, Microhoo will never be

Ryan Block, @ryan

Well, that's that! Microsoft has officially pulled its bid for Yahoo! -- inflated for good measure this weekend by another $5 billion -- after the company did "not move toward accepting [the] offer", asking again for even more, another $4 bil (totaling $9b more than the original offer). In a letter from Ballmer to Yang, he states that Microsoft also won't be looking at its option for a hostile takeover, stating that Yahoo! likely "would take steps that would make [it] undesirable as an acquisition"; Ballmer then goes on to make a few backhanded criticisms of Yahoo's possible new partnerships with Google (which is no surprise). Good night, Microhoo, the monstrous, hamstrung, lumbering mega-merger that might have been.

Update: Yahoo! makes its public response here. Yang sums it up: "With the distraction of Microsoft's unsolicited proposal now behind us, we will be able to focus..." etc. Alright then.

Engadget’s parent company, Verizon, now owns Yahoo. Engadget remains editorially independent.

From around the web

ear iconeye icontext file