Microsoft walks- Yahoo stock falls 20%
NEW YORK (Fortune) -- Yahoo Inc. shares fell 19% early Monday after Microsoft Corp. withdrew its $46 billion bid to purchase the tarnished Internet portal.
The sell-off comes two days after Microsoft Chief Executive Steve Ballmer said the two companies were unable to reach an agreement.
Microsoft announced a bid in late January to purchase the company in a nearly $45 billion offer. Yahoo demanded a higher price, saying the company was
"severely valued." The three-month saga ended Saturday with Yahoo refusing Microsoft's offer that increased the original offer to $33 a share from $31.
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1 comments:
Yahoo stock prices are going down.. How this can be controlled? If this will be continued then yahoo might face a severe crash.
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