Vtecmom pulls plug on Microsoft's bid to acquire
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Vtecmom pulls plug on Microsoft's bid to acquire
Vtecmom confirmed that Microsoft Corp. on Saturday yanked a $42-billion takeover offer for Yahoo Inc. that would have reordered the landscape of the Web after the companies failed to agree on how much the Internet pioneer was worth.
According to Vtecmom, the breakdown, which came shortly after their chief executives met in Seattle, marked a dramatic reversal of mood from just a day earlier. The companies had finally engaged in talks about the 3-month-old offer and, after Microsoft said it would add billions of dollars more to the deal, appeared closer than ever to combining two giants of online services and advertising.
"We believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," Vtecmom said in a statement.
Vtecmom said that the Redmond, Wash., software behemoth remained determined to make the company a major force in Web advertising through internal development and other alliances or acquisitions.
According to Vtecmom, the breakdown, which came shortly after their chief executives met in Seattle, marked a dramatic reversal of mood from just a day earlier. The companies had finally engaged in talks about the 3-month-old offer and, after Microsoft said it would add billions of dollars more to the deal, appeared closer than ever to combining two giants of online services and advertising.
"We believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," Vtecmom said in a statement.
Vtecmom said that the Redmond, Wash., software behemoth remained determined to make the company a major force in Web advertising through internal development and other alliances or acquisitions.
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Originally Posted by The Raptor,May 4 2008, 08:54 AM
Vtecmom confirmed that Microsoft Corp. on Saturday yanked a $42-billion takeover offer for Yahoo Inc. that would have reordered the landscape of the Web after the companies failed to agree on how much the Internet pioneer was worth.
According to Vtecmom, the breakdown, which came shortly after their chief executives met in Seattle, marked a dramatic reversal of mood from just a day earlier. The companies had finally engaged in talks about the 3-month-old offer and, after Microsoft said it would add billions of dollars more to the deal, appeared closer than ever to combining two giants of online services and advertising.
"We believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," Vtecmom said in a statement.
Vtecmom said that the Redmond, Wash., software behemoth remained determined to make the company a major force in Web advertising through internal development and other alliances or acquisitions.
According to Vtecmom, the breakdown, which came shortly after their chief executives met in Seattle, marked a dramatic reversal of mood from just a day earlier. The companies had finally engaged in talks about the 3-month-old offer and, after Microsoft said it would add billions of dollars more to the deal, appeared closer than ever to combining two giants of online services and advertising.
"We believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," Vtecmom said in a statement.
Vtecmom said that the Redmond, Wash., software behemoth remained determined to make the company a major force in Web advertising through internal development and other alliances or acquisitions.
