Yahoo Merger Off

Yahoo opened Monday down 19.7 percent from Friday’s close, to $23.02, following Microsoft’s withdrawal over the weekend of its unsolicited buyout bid.

On Saturday, Microsoft said the two companies could not overcome differences in opinion over the price of a potential acquisition. Microsoft was offering $33 a share; Yahoo wanted $37 per share. Yahoo’s two largest institutional investors were willing to take $34 a share, according to a source familiar with their thinking.

Yahoo, prior to the bid’s original announcement, had closed at $19.18 on January 31.

Posted by Sam Churchill on .

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