Microsoft letter withdrawing Yahoo bid
(Reuters) - Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz) walked away from its bid to buy Yahoo Inc (YHOO.O: Quote, Profile, Research, Stock Buzz) on Saturday after the Internet company turned down its offer to raise the price by $5 billion to $47.5 billion.
Following is the letter from Microsoft CEO Steve Ballmer ending talks. It was released by Microsoft.
May 3, 2008
Mr. Jerry Yang
CEO and Chief Yahoo
Yahoo! Inc.
701 First Avenue
Sunnyvale, CA 94089
Dear Jerry: Continued...
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