Microsoft's On Again, Off Again Dance With Yahoo Off...For Now
Wait. Huh? OK, not that we didn't know this deal would never happen but, please, can we just be done with it? Thankfully, it seems we are. In a letter to Yahoo CEO Jerry Yang, Microsoft mad man (and not the ad kind) Steve Ballmer says Yahoo's Request for $37 a share to Microsoft's offer of $33 is not going to happen.
In the letter, Ballmer expressed his dislike for Yahoo's dance with Google, writing, "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,"
Ballmer also adds that while Yahoo would have sped things up for Microsoft, the company can go it alone. "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. We have a talented team in place and a compelling plan to grow our business through innovative new services and strategic transactions with other business partners. While Yahoo would have accelerated our strategy, I am confident that we can continue to move forward toward our goals."
All done. That is until next week when Yahoo caves and accepts the $33 and the whole thing starts over again.