Microsoft sticks to its bid
E-commerce
25 April 2008
Microsoft has stuck to its bid for Yahoo! and is pushing for a decision from the search company ahead of tomorrow's deadline.
Its initial offer was rejected and chief financial officer, Chris Liddle, has said unless progress was made this weekend, "we will explore our alternatives".
These could include a revised offer, or as the company previously warned, a hostile takeover bid.
Mr Liddle said: "The idea we should increase our bid just because we can afford to is not one that I favour."
The software giant returned lower profits yesterday than it did 12 months ago, despite its revenue rising to $14.45 billion.
It reported strong profits from Xbox 360 and business server sales and a 35 per cent growth in its online services, which include MSN Live and Live Search.
Microsoft's main competitor, Apple, announced record profits yesterday on the back of 2.2 million computer sales.
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