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4 May, 2008 07:18

No deal! Microsoft walks away from Yahoo! bid

Microsoft has abandoned its bid to take over internet company Yahoo! after months of negotiations.

Microsoft was offering $US 47.5 billion for the company, valuing each share at $US 33. Yahoo! reportedly wanted $US 37, which the software giant was unwilling to pay.

The acquisition was intended to become the cornerstone of Microsoft's attempts to chip away at Google's share of the booming Internet advertising market.