Microsoft said yesterday that its efforts to acquire Yahoo are done, and shareholder advisory group RiskMetrics endorsed the re-election of the Yahoo board that had opposed Microsoft’s takeover. “It didn’t work out,” said Microsoft CEO Steve Ballmer. “Fine. We’re done. We can move on.” (The San Jose Mercury News) With Yahoo off the table, Microsoft said it will spend at least $2.5 billion a year for the foreseeable future to compete with search leader Google. (Bloomberg in The Washington Post)
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The bottom line
July 25, 2008
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