Nadeem
05-04-2008, 12:43 PM
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WASHINGTON: Computer software manufacturing renowned company Microsoft has taken back its offer for buying the ace search engine ‘Yahoo’.
Microsoft chief executive officer, Steffen Balmer in a memo to Yahoo search engine management said that despite substantial increase in the Microsoft’s offer amount and other all out efforts, Yahoo fell short of accepting the offer. Therefore, the Microsoft management, having gone through the details, came to the conclusion that it was in the better interest of the stockholders, employees and the company itself to withdraw the offer of buying Yahoo. Microsoft had raised its offer amount up to $5 billion for buying the Yahoo search engine.
WASHINGTON: Computer software manufacturing renowned company Microsoft has taken back its offer for buying the ace search engine ‘Yahoo’.
Microsoft chief executive officer, Steffen Balmer in a memo to Yahoo search engine management said that despite substantial increase in the Microsoft’s offer amount and other all out efforts, Yahoo fell short of accepting the offer. Therefore, the Microsoft management, having gone through the details, came to the conclusion that it was in the better interest of the stockholders, employees and the company itself to withdraw the offer of buying Yahoo. Microsoft had raised its offer amount up to $5 billion for buying the Yahoo search engine.