Microsoft Withdraws Proposal to Acquire Yahoo!

Microsoft Corp. today announced that it has withdrawn its proposal to acquire Yahoo! Inc. We continue to believe that our proposed acquisition made sense for Microsoft, Yahoo! and the market as a whole. Our goal in pursuing a combination with Yahoo! was to provide greater choice and innovation in the marketplace and create real value for our respective stockholders and employees, said Steve Ballmer, chief executive officer of Microsoft.

Source: techpowerUp!