Microsoft says chances of Yahoo takeover negligible
People walk past Yahoo! offices in Santa Monica, California, May 19, 2008.
Credit: Reuters/Lucy Nicholson
REDMOND, Washington |
REDMOND, Washington (Reuters) - Microsoft Corp (MSFT.O) Chief Financial Officer Chris Liddell on Thursday described Yahoo Inc. (YHOO.O) as "a declining asset" and all but ruled out a complete takeover of the Internet company.
"We took the view and we still take the view that Yahoo is essentially a declining asset. We made a credibly generous bid with a very high premium because we were looking for speed," Liddell said, speaking to Wall Street analysts at the company's annual analyst meeting at its Redmond headquarters.
He then added that the "chances of us buying Yahoo on a full acquisition basis are so small that they are essentially negligible."
(Reporting by Daisuke Wakabayashi in Redmond and Paul Thomasch in Los Angeles; editing by Carol Bishopric)
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