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Microsoft Withdraws from Yahoo
Microsoft has withdrawn its offer to acquire Yahoo after the talks between them broke down last May 1, 2008. Microsoft had offered as much as $33 per share but Yahoo stood its ground and they were holding out at $37 per share. Because of this, Microsoft decided to withdraw. But there are also strategic issues aside from the financial one. For example, Microsoft believes that it is almost impossible to achieve a friendly process of integrating the two giants.
Microsoft first made a bid to acquire Yahoo last February at $31 per share. However, this bid was not accepted and the two sides went on fruitless negotiation process for several months. Not being able to integrate means that both companies will be left in a tenuous position because of their rivals’ current position in the market. Microsoft had hoped that it can gain a competitive edge against its rival, Google, using Yahoo. It aimed to increase its internet advertising business.
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