-------------------------------------- After more than three months of posturing and negotiations, Microsoft on Saturday withdrew its proposal to acquire Yahoo.
In a statement released late in the day, Microsoft CEO Steve Ballmer said the company had raised its bid by "roughly $5 billion," but "Yahoo has not moved toward accepting our offer."
"After careful consideration, we believe the economics demanded by Yahoo do not make sense for us," Ballmer's statement continued, "and it is in the best interests of Microsoft stockholders, employees, and other stakeholders to withdraw our proposal." --------------------------------------