November 8, 2008 by Matt Thomas
The spike in share price that Yahoo experienced earlier in the week may prove to be short-lived, considering what Steve Ballmer, Microsoft’s Chief Executive said yesterday in Sydney, Australia. Balmer claimed that Microsoft was no longer interested in taking over Yahoo, which comes as some surprise considering the aggressive attempts the company has made to buy them in the past.
Such a buyout had been much discussed this week, after Google opted out of an advertising deal with Yahoo that the search engine number two sorely needed, leaving them in dire straits, with no obvious way forward.
“We are not interested in going back and re-looking at an acquisition,” said Ballmer, “They turned us down at $33 a share.” That’s a decision that Yahoo executives may be ruing, with their share price languishing at $13.96 when the markets closed on Thursday.
On Wednesday Jerry Yang from Yahoo appeared to be jettisoning his and the company’s pride for the greater good when he said “The best thing for Microsoft to do would be to buy Yahoo,” at the San Francisco Web 2.0 conference. Unfortunately for the troubled search engine, it would appear that this plea has fallen on deaf ears.
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