Microsoft drops pursuit of Yahoo, looks ahead

SAN FRANCISCO -- With its quest for Yahoo abruptly over, Microsoft must now pursue a Plan B to compete with Google for Internet advertising dollars. Microsoft dropped its blockbuster bid to acquire Yahoo late Saturday, after the two tech titans could not agree on a price. The software giant withdrew its offer hours after it sweetened the bid to $33 a share, or about $47.5 billion, at a meeting in Seattle between Microsoft CEO Steve Ballmer and Yahoo CEO Jerry Yang, said people with knowledge of the talks who asked not to be named because of the sensitivity of the discussions.
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Posted by Editor at May 5, 2008 12:53 AM