Microsoft 'not ready to raise Yahoo! bid'

Category: Online marketing

May 2nd 08, 10:50

Microsoft is not intending to budge on its proposed acquisition of Yahoo!, the company's chief executive said this week.

The world's largest software company has offered $44.6 billion (£22.6 billion) for the pioneering search firm and is not planning to raise this offer, AFP reports.

At a meeting this week, chief executive Steve Ballmer told employees: "I know exactly what I think Yahoo! is worth and I won't go a dime above."

He added that Microsoft needed to announce "in very short order" which option of three it intended to take - a friendly takeover, a hostile acquisition or an abandonment of the deal altogether.

Earlier this week, reports suggested that Microsoft was thinking about raising its offer for Yahoo! after the company ignored the deadline by which it was told it must reply to the bid last weekend.

It emerged this week that Yahoo!'s chief executive officer, Jerry Yang, was paid just $1 last year, not getting any bonus or stock awards because of the shares he already owns.

This news story was brought to you by Bluhalo, a leading UK digital agency.

Related News

  1. CMOs 'to spend more than 50% of budgets on internet'
  2. Search marketing 'to outperform total online ad industry'
  3. Firms launch new websites to maintain online reputations
  4. Pharmaceutical marketing 'should focus on website design'