Microsoft walked away from its bid to buy Yahoo! on Saturday after the internet company turned down its offer to raise the price by -billion to ,5-billion. Microsoft’s offer was for a share but Yahoo! would not lower its demand below , Microsoft chief executive Steve Ballmer said.
United States internet company Yahoo! on Monday rejected software giant Microsoft’s three-week ultimatum to accept a takeover offer, but left the door open to a higher bid. "We continue to believe that your proposal is not in the best interests of Yahoo! and our stockholders," it said in a letter to Steve Ballmer, CEO of Microsoft.