Here is the text of an internal memo Microsoft CEO Steve Ballmer sent Saturday afternoon to Microsoft employees:
From: Steve Ballmer
Sent: Saturday, May 03, 2008 5:18 PM
To: Microsoft - All Employees (QBDG)
Subject: Withdrawal of Offer to Acquire Yahoo!
This afternoon I sent the attached letter to Jerry Yang announcing that Microsoft has withdrawn its proposal to acquire Yahoo. We proposed the deal in the belief that a Microsoft-Yahoo merger would create a combined company with the resources and assets to win in the fast-growing market for advertising and online services.
Although the acquisition of Yahoo would … Read more