Microsoft bid for Yahoo expires
By Mark Roberts
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Posted 28 April 2008 @ 08:30 am GMT
Microsoft's deadline for Yahoo to accept its takeover bid expired on Sunday. Microsoft said that if Yahoo failed to accept its $44.6 billion takeover offer by 27 April 2008, then it would launch a hostile takeover bid at a lower price.
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bid deadline microsoft yahoo
Global Radio increases bid for GCapLast week Microsoft reported an 11 per cent drop in quarterly profits, by contrast Yahoo posted strong results in its first quarter. Steve Ballmer, CEO of Microsoft said last week that the company would not abandon its takeover bid if Yahoo posted good first quarter results.
Microsoft made the original bid on the grounds that teaming up with Yahoo would provide a strong competitor for Google, who dominate the global online advertising market.
This article is copyrighted by the International Business Times.
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