Microsoft officially withdraws Yahoo Bid

May 4 2008, 2:15am CDT | by Luigi Lugmayr

Microsoft issued a statement that they withdraw their offer to buy Yahoo!.

Microsoft published the letter Steve Ballmer sent to Jerry Yang. Microsoft was willing to increase the offer to $33 per share.
Because Yahoo is possibly planning to run Google Ads Microsoft is also not pursuing a hostile takeover.
Looks the 3month long story comes to an end and there will be no Yahoo acquisition in any form by Microsoft.

It will be interesting to see what now happens to Yahoo. Will they stay independent? Will Google try to bind Yahoo closer to them? Will they go out of business? Will some other media power-house swoop in and try to acquire Yahoo? Everything is possible.

Read the full statement and letter to Yahoo! on the Microsoft site. Update: Yahoo response to Microsoft's Bid Withdrawal.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.