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May 17, 2008 1:34:04 AM CDT

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Microsoft and Yahoo: Second Date, Still No Kiss  

Posted Apr 4, 08 1:18 PM CDT in Business,  Technology    Editor's Choice

(newser) – Microsoft and Yahoo execs met again this week, but the software maker refused to raise its takeover offer and the two sides failed to make progress toward an agreement. Yahoo won’t enter formal negotiations unless Microsoft increases its Jan. 31 cash-and-stock bid, then worth $44.6 billion and now about $42 billion, sources told the Wall Street Journal.

Microsoft seems to be waiting for the troubled economy to cause Yahoo shareholders to pressure their board and management to reconsider the offer, which the Yahoo board rejected as too low. Microsoft’s bid amounted to $31 per share at the time it was made, but its slipping share price means the bid now worth about $29 a share.

Source Wall Street Journal

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Microsoft and Yahoo: Second Date, Still No Kiss
Microsoft chairman Bill Gates smiles during his keynote speech at the Consumer Electronics Show in Las Vegas on Jan. 6, 2008.   (AP Photo/Paul Sakuma)
Microsoft and Yahoo: Second Date, Still No Kiss
The Yahoo Center office building is seen in Santa Monica, Calif. in this Feb. 2, 2008 file photo.   (AP Photo/Damian Dovarganes, file)
Microsoft and Yahoo: Second Date, Still No Kiss
The Yahoo logo is seen in New York in this Thursday, Feb. 14, 2008 file photo.   (AP Photo/Mark Lennihan, file)
Microsoft and Yahoo: Second Date, Still No Kiss
Yahoo CEO Jerry Yang gives a keynote address at the Consumer Electronics Show (CES) in Las Vegas, in this Jan. 7, 2008 file photo.   (AP Photo/Paul Sakuma, file)
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