Microsoft scraps Yahoo bid
Microsoft has withdrawn its bid to buy Yahoo after efforts to negotiate a mutually acceptable sale price failed.
The talks reached breaking point after Yahoo co-founders Jerry Yang and David Filo flew to Seattle to meet Microsoft chief executive Steve Ballmer.
Microsoft was willing to pay $47.5bn, or $33 per share, but Yahoo's board demanded at least $53bn, nearly double the February stock price of $19.18.