Report: Microsoft, Yahoo execs meet again on takeover talks

No progress made in Microsoft's effort to buy Yahoo, WSJ reports

Senior executives of Microsoft Corp. and Yahoo Inc. met this week to discuss Microsoft's bid to acquire Yahoo, but they couldn't reach an agreement on the deal, according to today's Wall Street Journal.

According to the report, the meeting occurred near Yahoo headquarters in Sunnyvale, Calif. The companies also reportedly met on March 14 to discuss Microsoft's proposal.

The sources told the Journal that neither meeting included bankers.

Both Yahoo and Microsoft declined to comment on the report today.

The sources told the Journal that Microsoft executives did not raise their offer and that Yahoo executives refused to enter formal negotiations without an increased offer.

Microsoft's bid was initially worth $44.6 billion, but a decline in the price of Microsoft's shares reduced the offer to about $42 billion.

Yahoo rejected Microsoft's offer on Feb. 10, saying it undervalued the company. The sources told the Journal that Yahoo's executives see no point in holding talks based on that offer.

Copyright © 2008 IDG Communications, Inc.

Bing’s AI chatbot came to work for me. I had to fire it.
Shop Tech Products at Amazon