Breaking News: Microsoft walking away from attempt to purchase Yahoo!
MSNBC and others are reporting that Microsoft has walked away from its attempt to purchase Yahoo!, according to a spokesperson from Microsoft.
No official statement has yet been released – but a written statement from Microsoft CEO Steve Ballmer is expected shortly.
Update: Microsoft appears to have backed away after Yahoo CEO Jerry Yang requested $53/share to a buyout of Yahoo. You can read Ballmer’s letter to all Microsoft employees over at TechCrunch.
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How mad is Ballmer today? I bet he could back up to a pine tree and eat the bark off with his butt cheeks.
Just saw this on TechCrunch, and after twittering Mike he thinks the stock is probably going to drop (for Yahoo! that is).
While I am happy about this, this means Yahoo! is going to face some mighty lawsuits in the future, none of them good.