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Microsoft insists it doesn’t want Yahoo!

by Scott Bicheno on 17 October 2008, 13:31

Tags: Microsoft (NASDAQ:MSFT), Yahoo! (NASDAQ:YHOO)

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In a short and not particularly sweet statement, Microsoft poured water on speculation that it was still sniffing around internet giant Yahoo! with a view to resurrecting the bid to acquire it.

"Our position hasn't changed. Microsoft has no interest in acquiring Yahoo!; there are no discussions between the companies," said an official statement on Microsoft's press site.

Reportedly CEO Steve Ballmer said yesterday that a web search deal between Microsoft and Yahoo! still makes economic sense.

Maybe investors desperate for a decent opportunity in the turbulent market took this as a hint and that's why Microsoft moved quickly to clarify its stance.

Yahoo! shares shot up over ten percent in morning trading yesterday and then stabilised at around $13. Microsoft offered to pay $33 per share last May. Yahoo! shareholders must feel gutted.

 



HEXUS Forums :: 1 Comment

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Apart from the speculation now would be a nice time to put another offer in! alot less than the one a few months ago as well lol!

those shares have got to burning a few holes in pockets now!



Higgs…Out!