Squashing Yahoo’s hopes of renewing the bid talks with Microsoft, Steve Ballmer, Microsoft’s CEO, stated that the company is simply “not interested” in making new offer to acquire Yahoo, in spite of the fact that Yahoo’s share prices have fallen to less than half of what Microsoft had offered initially.
Addressing a Committee for Economic Development of Australia, Microsoft’s chief said, “Look, we made an offer; we made another offer. It was clear that Yahoo didn't want to sell the business to us, and we moved on”.
He further stated that the other deals with Yahoo had also ended in failure, as Microsoft tried to pen an agreement around Yahoo’s search business, but it also didn’t materialise at all.
A couple of days back, Yahoo’s CEO Jerry Yang signalled to refresh the acquisition talks with Microsoft, and while speaking at Web 2.0 Expo in San Francisco, he said in a statement, “To this day, I have to say that the best thing for Microsoft to do is to buy Yahoo.”
Earlier this week, Yahoo stocks have soared in price owing to the rumours of a fresh deal with Microsoft; however, the stock is currently sitting below USD15, which is less than half the price offered by Microsoft, when it quoted the price of USD33 per share.