Yahoo Inc. stock plunged Thursday after the Internet giant said that Microsoft Corp. had definitively abandoned its five-month pursuit of company.
Sunnyvale, Calif.-based Yahoo (NASDAQ: YHOO) said in a statement that Microsoft made it clear it wasn't interested in a deal on June 8 after "numerous meetings and conversations with Microsoft regarding a number of transaction alternatives."
"At that meeting, Microsoft representatives stated unequivocally that Microsoft is not interested in pursuing an acquisition of all of Yahoo, even at the price range it had previously suggested," the statement read. Microsoft offered $33 a share last month.
Shares of Yahoo were down 12 percent, or $3.13, to $23.02 on the news.
Microsoft shares (NASDAQ: MSFT), on the other hand, rose by as much as 5 percent to $28.55.
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Posted by: The Cap'm Date: Tuesday, April 22, 2008 6:16:03 PM In reply to: The Cap'm who wrote msg# 708 Post # of 939
How? Because Ballmer is executing a takeunder. People with YHOO calls -- surrender all hope. There will be no greater bid.
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