Microsoft has dropped it’s bid to buy Yahoo. Apparently they can’t agree on a price.
Microsoft chief executive Steve Ballmer formally withdrew the offer in a letter to Yahoo chief executive Jerry Yang.
Mr Ballmer said Microsoft had raised its original offer from $44.6bn to $47.5bn (£24.1bn) – $33 per share.
The letter was posted on Microsoft’s site. Yahoo had insisted on at least $53bn, or $37 a share. What’s going to happen to Yahoo remains to be seen I guess.