While speaking in Moscow, Microsoft CEO and Yahoo suitor Steve Ballmer said, "Yahoo was never the strategy we were pursuing, it was a way to accelerate our online advertising business... We will spend money on some acquisitions. You can do a whole lot of things with $50 billion."
After talks broke down on Saturday, Microsoft CEO Steve Ballmer sent this letter to Yahoo chief Jerry Yang, signalling the end of the epic takeover attempt.
Microsoft and Yahoo once again speaking to each other, with sources saying the latest talks involve a deal short of an acquisition.
Yahoo is headed for a reorganisation that, combined with an exodus of top Yahoo executives, will in all likelihood put power in dramatically fewer hands.
Although Yahoo executives speaking at an online ad conference on Monday were mum on Microsoft's takeover attempt, they were quick to tease a new feature -- due out this week -- on their home page which could be their rumoured competitor to social news aggregator Digg.
On Saturday, Microsoft formally withdrew its offer to acquire the search pioneer, at least for now. So what happens next for Yahoo? A deal with Google looks likely.
Nobody, least of all Yahoo and Google, doubted that the two companies' search-advertising deal would escape any antitrust scrutiny.
As Microsoft's deadline for Yahoo to accept its takeover bid passes, the tech world is still waiting for information from either company on their wedding plans.
As the two giants tussle for domination of online advertising dollars, it's increasingly clear that this tug-of-war is really a test of each company's corporate culture.
Friday's New York Post writes that an independent group of Yahoo board members believes Yahoo CEO Jerry Yang may be letting emotions trump his better judgment; and that's why he's opposed to accepting Microsoft's buyout offer.
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