We have been anticipating the twists and turns in this one since it started three months ago. This outcome, Microsoft leaving as a jilted suitor and Yahoo! facing a crisis of confidence, is a bit of a disaster for Yahoo. Chief Yahoo! Yang will have his work cut out, just to hold onto his job by the time the dust settles on this heavily botched, unsightly mating dance and non-dialog between two tech giants.
Milestones in this “failed deal extraordinare” saga:
- Feb. 1, 2008: After two years of talks and speculation, Microsoft makes unsolicited offer to buy Yahoo for $31 per share, or $44.6 billion.
- Feb. 11: Yahoo rejects Microsoft’s offer, saying it “substantially undervalues” the company’s brand and worldwide assets.
- Feb. 19: Microsoft Chairman Bill Gates tells The Associated Press the software maker isn’t in talks with Yahoo about raising its offer.
- April 5: Microsoft CEO Steve Ballmer gives Yahoo three weeks to agree on a buyout or expect the software maker to go hostile — and potentially lower the offer price.
- May 3: Microsoft withdraws its offer.