TEXT - Microsoft letter withdrawing Yahoo bid

Tue May 6, 2008 10:22am BST
 
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(Reuters) - Microsoft (MSFT.O) walked away from its bid to buy Yahoo (YHOO.O) on Saturday after the Internet company turned down its offer to raise the price by $5 billion (2.53 billion pounds) to $47.5 billion.

Following is the letter from Microsoft CEO Steve Ballmer ending talks. It was released by Microsoft.

May 3, 2008

Mr. Jerry Yang

CEO and Chief Yahoo

Yahoo! Inc.

701 First Avenue

Sunnyvale, CA 94089

Dear Jerry:  Continued...

 
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