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BUSINESS BRIEFING / TECHNOLOGY

No on Yahoo, Microsoft says

November 20, 2008|times wire reports

Microsoft Corp. is no longer interested in buying all of Yahoo Inc., Chief Executive Steve Ballmer repeated, though he told shareholders that the company would still be "very open" to a collaboration on Internet search. His comments sent Yahoo shares down nearly 21%.

"Let me be clear," Ballmer said at Microsoft's annual shareholder meeting. "We are done with all acquisition discussions with Yahoo."

Yahoo shares plummeted $2.41, or 20.9%, to $9.14, well below the $33 a share that Microsoft offered in May. Microsoft shares tumbled $1.33, or 6.8%, to $18.29.

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