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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Search Search: Microsoft CEO rules out another Yahoo bid: report AFP - Saturday, November 8 WASHINGTON (AFP) - - Microsoft Corp. chief executive Steve Ballmer has ruled out making another bid for Internet firm Yahoo, The Wall Street Journal reported on Friday. "We made an offer, we made another offer, and it was clear that Yahoo didn't want to sell the business to us and we moved on," the newspaper quoted Ballmer as saying on Friday in Australia. "We are not interested in going back and re-looking at an acquisition. I don't know why they would be either, frankly. They turned us down at 33 dollars a share," he added at a business luncheon in Sydney. Yahoo was trading at 12.25 dollars shortly after the opening bell on Friday at the New York Stock Exchange, a drop of more than 12 percent. Yahoo chief executive Jerry Yang said in San Francisco on Wednesday that Microsoft should buy his pioneering Internet firm despite the failed takeover talks between the companies earlier this year. "To this day, I would say the best thing for Microsoft is to buy Yahoo," Yang said during an on-stage chat with journalist John Battelle at a Web 2.0 summit on Internet Age companies and their business strategies. The Journal said Ballmer did suggest that a partnership was possible in the search engine market between the Redmond, Washington-based software giant and Yahoo. "I'm sure there are still some opportunities for some kind of partnership around search, but I think acquisition is a thing of the past," Ballmer said. "Everybody needs a good competitor, and we just want the other guys in this business to have a good competitor that they have to think about every day," he said. Search and online advertising leader Google Inc. and Yahoo dropped plans this week for a search advertising partnership in the face of opposition from anti-trust regulators at the US Department of Justice. The Justice Department vowed to file a lawsuit to block the alliance on the grounds it would stifle competition in Internet search advertising by controlling up to 90 percent of the market. Microsoft on January 31 offered to buy Yahoo for 44.6 billion dollars in a half-cash, half-stock deal. Microsoft walked away from negotiations May 3 after Yahoo rejected an offer it raised from 31 dollars to 33 dollars per share, which amounted to 47.5 billion dollars. Microsoft wanted to buy Yahoo to better battle Google, which claims the lion's share of the multibillion-dollar Internet search and advertising market. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Internet Portals & Search Engines Muxlim.com to launch virtual world site for MuslimsAFP - Saturday, November 8 Microsoft CEO rules out another Yahoo bid: reportAFP - Saturday, November 8 Craigslist moves to crack down on prostitution adsAFP - Saturday, November 8 Facebook chief focused on growth not cashAFP - Friday, November 7 Related Articles: Technology Muxlim.com to launch virtual world site for MuslimsAFP - Saturday, November 8 Microsoft CEO rules out another Yahoo bid: reportAFP - Saturday, November 8 Craigslist moves to crack down on prostitution adsAFP - Saturday, November 8 Honda unveils leg assist machine for elderlyAFP - Saturday, November 8 Facebook chief focused on growth not cashAFP - Friday, November 7 Enlarge Photo Microsoft Corp. chief executive Steve Ballmer has ruled out making another bid for Internet firm Yahoo, The Wall Street Journal reported on Friday. Related Photos Slideshow Full Photo Coverage: Internet Portals & Search Engines Related Full Coverage Internet Portals & Search Engines Latest development in the online world All Full Coverage Most Popular – Technology Viewed IMF sees recession in advanced economies in 2009 Among Obama's next challenges: his own security US doctors tell Liu Xiang he needs surgery Obama discusses global financial crisis with world leaders Airline profits nosedive as leaders debate finance crisis View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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