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Microsoft CEO says there are no plans to raise offer for Yahoo

April 24, 2008, 05:10 AM Post Comments
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Microsoft Corp.'s chief executive officer said Wednesday that Microsoft's US$44 billion (€27.6 billion) offer for Yahoo Inc. reflects the company's worth and there are no plans to raise it.

"We know what Yahoo's worth. US$44 billion is a lot of money," CEO Steve Ballmer said at a conference in Milan.

Ballmer added that Microsoft is "prepared to move forward alone without Yahoo" if the bid doesn't succeed.

The cash-and-stock bid _ valued at US$44.6 billion (€28 billion), or US$31 per share, when it was first made _ is now worth about US$43 billion (€26.99 billion), or US$29.88 per share.

Without specifying a precise price, Yahoo has maintained it's worth more to Microsoft even though its shares had fallen below US$20 before the bid.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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