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Microsoft Completely Walks Away From Yahoo Deal

 

If there were any hopes left that Yahoo and Microsoft would find a way to renegotiate a possible acquisition of Yahoo, they were squashed today.

Yahoo said that discussions with Microsoft "regarding a potential transaction - whether for an acquisition of all of Yahoo or a partial acquisition - have concluded." Yahoo said that company representatives met on June 8, during which both parties "unequivocally [stated] that Microsoft is not interested in pursuing an acquisition of all of Yahoo, even at the price range it had previously suggested."

Yahoo’s Board of Directors said it has determined that the previously proposed a transaction "would not be consistent with the company’s view of the converging search and display marketplaces" and would leave the company without an independent search business that it views as critical to its strategic future.

Yahoo’s board attempted to gamble this acquisition, to many angry responses and Microsoft called Yahoo’s bluff."