Wednesday May 7, 11:31 AM
Microsoft's Gates plays down prospects of fresh Yahoo bid
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TOKYO (AFP) - Microsoft (NASDAQ: MSFT - news) chairman Bill Gates on Wednesday played down the chances of a fresh takeover bid for Yahoo (NASDAQ: YHOO - news) , saying the US software giant would focus on an independent strategy.
"We put a lot of effort into talking to Yahoo and the conclusion was reached that we should pursue our own independent path," he told reporters during a visit to Tokyo.
"At this point, Microsoft is focused on its independent strategy," he added.
Microsoft on Saturday abandoned its proposal to acquire Yahoo after the struggling Internet giant rejected an increased offer of 33 dollars per share, nearly 50 billion dollars in total, after months of wrangling between the firms.
Yahoo chief executive Jerry Yang refused to accept less than 37 dollars per share, a five-billion-dollar bump in the purchase price.
Yang said in an interview with the Financial Times published Tuesday that his group had been willing to do a deal and was open to renewing negotiations with Microsoft.
Analysts say that Yahoo stockholders are likely to put pressure on the firm to quickly come up with an impressive business plan or try to return to the negotiating table with Microsoft.
Microsoft was eager to combine Internet resources with Yahoo to better battle Google (NASDAQ: GOOG - news) , which dominates the fast-growing online search and advertising market.
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