The Week: City news - Yahoo! bid withdrawn

Microsoft has withdrawn its $44.6 billion bid to acquire Yahoo! after the two failed to agree a price.

Steve Ballmer, Microsoft's chief executive, wrote to the Yahoo! chief executive, Jerry Yang, to inform him of the decision, which followed speculation last week that the two companies might re-enter negotiations. Yahoo!'s shares fell by 15 per cent on the news, but are still higher than the $19 per share they were valued at when Microsoft made the original bid.

Become a member of Campaign from just £46 a quarter

Get the very latest news and insight from Campaign with unrestricted access to plus get exclusive discounts to Campaign events

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content


1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).