Yahoo Inc and Google Inc are close to reaching a search advertising deal, and talks between Yahoo and Microsoft Corp about a similar deal have fallen through, people familiar with the matter said on Thursday.
Talks between Microsoft and Yahoo concluded after Yahoo decided to pursue a deal with Google, one of the sources said.
Yahoo also asked Microsoft if it would renew its $33-a-share takeover offer for the Internet company, but Microsoft was not interested, another source said.
Shares of Yahoo dropped more than 8 percent on Thursday after the Wall Street Journal reported that negotiations between the Internet media company and Microsoft Corp ended without reaching a deal.
Yahoo shares fell 8.2 percent to $24 on the Nasdaq.
Thursday, June 12, 2008
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