Yahoo! shares stutter after Microsoft turns away
May 05, 2008
Mergers and Acquisitions
The share price of Yahoo! took an anticipated dive in response to Microsoft’s decision to walk away from the $47.5 billion deal.
The price fell almost 20% in initial trading on the NASDAQ before closing at $24.47, down by 14.65% and below Microsoft’s revised offer of $33/share. Shares of Microsoft finished half a percent lower, closing at $29.08.
The onlooker in this case, Google, saw it’s stock rising 2.34% to close at $594.90, as the potential threat of a Microsoft-Yahoo merger died down. It remains to be seen though if Google may now make a play for Yahoo!.
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