Microsoft's Price Wasn't Right: Yahoo Offer Expires

Talks quietly die after Yahoo demands $35 a share
By Katherine Thompson,  Newser Staff
Posted Apr 27, 2008 4:05 PM CDT
Microsoft's Price Wasn't Right: Yahoo Offer Expires
Yahoo CEO Jerry Yang poses for a photo in front of the Yahoo booth at the Consumer Electronics Show in Las Vegas in this Jan. 7, 2008 file photo.    (Associated Press)

Microsoft may get nasty now that its deadline for a friendly Yahoo purchase expired yesterday. Talks died quietly after Microsoft refused to up its offer from $29.68 a share on Friday; Yahoo execs wanted $35. Microsoft could now press Yahoo, tack back the offer, or deal directly with Yahoo shareholders, the Wall Street Journal reports.

But some shareholders oppose a takeover unless Microsoft raises its January offer of $31 a share. If Microsoft backs off, Yahoo's shares will likely fall 50 cents from their current $26.80 price; they traded at $19.18 before the Microsoft offer. Meanwhile, Yahoo may continue its search advertising venture with Google—which has already seen success and encouraged some at Yahoo to refuse Microsoft's offer. (More Microsoft stories.)

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