Some things just aren't meant to be... "Microsoft (MSFT, news, msgs) is walking away from an offer worth perhaps as much as $48 billion to acquire Internet-services company Yahoo (YHOO, news, msgs).

A Microsoft statement said Saturday that the software giant was willing to pay $33 a share for the company, $2 a share more than originally offered. But Yahoo refused to budge from its demand for $37 a share or roughly $53 billion. (Microsoft is the publisher of MSN Money.)

"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," Microsoft CEO Steve Ballmer said in a statement.

The decision came after a meeting in Seattle Saturday between Ballmer, Yahoo CEO and co-founder Jerry Yang and Yahoo co-founder David Filo, The New York Times said. Also attending was Kevin Johnson, who heads Microsoft's online business. Via MS Money .

Labels: microsoft, yahoo

  ¶ posted by Jimmie Geddes, Editor @ 5/04/2008 12:39:00 AM