| Microsoft rules out buying Yahoo, prefers search deal |
| Thursday, November 20, 2008 |
Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz) Chief Executive Steve Ballmer ruled out an acquisition of Yahoo Inc on Wednesday but said his company was interested in resuming talks on a Web search partnership.
Yahoo shares fell 19 percent on the remarks, after gaining this week on renewed investor hopes that Microsoft may refresh its bid for the Internet company after Yahoo Chief Executive Jerry Yang announced that he would step down.
"Let me be as clear as I think I've tried to be publicly. We are done with all acquisition discussions with Yahoo," Ballmer told Microsoft's annual shareholders meeting, in response to a question on what was happening with Yahoo.
"I've said that a bunch of times. Somehow some people have gotten confused nonetheless," Ballmer added. "We thought we had something that made sense. (It) didn't make sense to them. We've moved on."
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posted by citizen jerk @ 6:54 AM   |
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