Microsoft Retain 44 Billion Offer For Yahoo
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Microsoft Corp. Chief Executive Steve Ballmer said Wednesday that his company’s $44 billion offer for Yahoo Inc. reflects Yahoo’s worth and the software maker has no plan to raise it.
“We know what Yahoo’s worth. $44 billion is a lot of money,” Ballmer said at a conference in Milan.
Ballmer said Microsoft is “prepared to move forward alone without Yahoo” if the bid doesn’t succeed. The cash and stock bid — valued at $44.6 billion, or $31 per share, when it was first made — is now worth about $43 billion, or $29.88 per share.
Without specifying a precise price, Internet pioneer Yahoo has maintained it is worth more to Microsoft even though its shares had fallen below $20 before the bid.
