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Microsoft CEO Has No Plans To Raise Yahoo Offer

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Apr 23, 2008 2:07 pm US/Pacific

Microsoft CEO Has No Plans To Raise Yahoo Offer

 YAHOO: Latest Quote & News

 MICROSOFT: Latest Quote & News
MILAN, Italy (AP) ― Microsoft Corp. Chief Executive Steve Ballmer said Wednesday that his company's $44 billion offer for Yahoo Inc. reflects Yahoo's worth and the software maker has no plan to raise it.

"We know what Yahoo's worth. $44 billion is a lot of money," Ballmer said at a conference in Milan, Italy. 

Ballmer said Microsoft is "prepared to move forward alone without Yahoo" if the bid doesn't succeed.

The cash and stock bid valued at $44.6 billion, or $31 per share, when it was first made is now worth about $43 billion, or $29.88 per share.

Without specifying a precise price, Internet pioneer Yahoo has maintained it is worth more to Microsoft even though its shares had fallen below $20 before the bid.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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