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May3
Microsoft Withdraws Its Bid for Yahoo »
I can’t believe Yahoo! escaped. As a Flickr user, I’m rather happy about it, too.
“At the meeting, which also included Yahoo’s other co-founder, David Filo, and Kevin Johnson of Microsoft, Mr. Ballmer increased Microsoft’s offer to $33 a share, but Mr. Yang said Yahoo would not sell for less than $37 a share, this person said.”
It may go without saying, but that they couldn’t agree on a price need not have stopped Microsoft; their proxy battle would have succeeded in all but the most outlandish scenarios. It’s notable, then, that Ballmer evidently agreed with those who said that hostile acquisition and the difficult integration of Yahoo! with MS would have been a disaster.