Microsoft has withdrawn its bid to acquire Yahoo after the two sides couldn't agree on a price. Microsoft said it had increased its offer to $33 a share, but said Yahoo wanted at least $37 a share.
"Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo has not moved toward accepting our offer," said Microsoft Chief Executive Steve Ballmer in a press release. "After careful consideration, we believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal."
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