Microsoft CEO Steve Ballmer stated today his firm is no longer interested in taking over Yahoo:
Microsoft CEO Steve Ballmer said Friday that Microsoft is "not interested" in making a new offer for internet company Yahoo, despite Yahoo's share price currently sitting at less than half what Microsoft initially offered.
Speaking at a Committee for Economic Development of Australia lunch in Sydney on Friday, Ballmer 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."
Ballmer said other deals with Yahoo had also been unsuccessful. "We tried at one point to do a partnership around search, not advertising. That didn't work either, so we moved on, and they moved on."
"We are not interested in going back and re-looking at an acquisition," he said. "I don't know why they would be either, frankly."