Yahoo and Microsoft Deal is Over
After months of negotiations, technology mogul Microsoft is giving up and trying to by out rival, Yahoo.
According to reports on BBC.com and the Washington Post, the deal is over because the two companies could not settle on a price.
According to the articles, Microsoft has landed on a final offer of $47.5 billion or $33 per share. Yahoo said wanted $53 billion or $37 per share.
The articles added that talks of a deal that started in January were an attempt to close in on Google, the leader in online advertising.
"Clearly a deal is not to be," Microsoft chief executive Steven Ballmer wrote to Yahoo chief executive Jerry Yang yesterday.
The BBC article said that Ballmer's letter to Yang was posted on the Microsoft Web site.