Microsoft announced that it has finally let go of its ambitious effort to purchase Yahoo after the two companies failed to reach an agreement on a suitable selling price after several days of intense negotiations.
Back on Feb 1, Microsoft went public with a $44.6 billion dollar bid for Yahoo, which would have instantly created a dominant force in the surging online advertising space. Yet despite raising its bid by nearly $5 billion, Microsoft will come away empty handed as Yahoo's executives were said to be seeking a higher price for the embattled company. And perhaps surprisingly, Microsoft has elected not to go hostile in its acquisition attempt, and is instead electing to simply move on.
For more information and history of the negotiations between Yahoo and Microsoft, check out Fox Business.