Just sharing some of my inconsequential lunch conversations with you... RSS  

Sunday, May 04, 2008

Microsoft Withdraws Proposal to Acquire Yahoo

It's about time!

From Ballmer's letter to Yahoo:

Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo! has not moved toward accepting our offer. After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal.

But look, Ballmer is trying to tell us it wasn't all about money:

We regard with particular concern your apparent planning to respond to a “hostile” bid by pursuing a new arrangement that would involve or lead to the outsourcing to Google of key paid Internet search terms offered by Yahoo! today. [...] Accordingly, your apparent plan to pursue such an arrangement in the event of a proxy contest or exchange offer leads me to the firm decision not to pursue such a path.

Eh, eh, eh, blame it on Google... Great way to get out clean (as it can be...).

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