May 4, 2008: Microsoft Pulls Yahoo Offer
2008 – After months of bid negotiations and Yahoo’s Jerry Yang saying “No”, Microsoft decided to take their $50 billion dollar offer off the table. Although Microsoft pulled the offer, it was not the last time we would hear about it. Carl Icahn would lead a charge to try and re-instate selling or have Yang off the Yahoo board.
On February 1st, 2008, Microsoft offered $45 billion ($31 / share) to purchase Yahoo! Ultimately, in 2009 Carol Bartz sold Yahoo search technology to Microsoft in a 10-year agreement, which (in an updated agreement on April 2015) may be terminated on October 1st, 2015.
Full Day in Tech History podcast show notes for May 4
- “I Love You” virus hits computers
- AOL repairs glitch so Apple Macs can use the service