05/11/2008 05:12 am ET Updated May 25, 2011

Microsoft Abandons Bid For Yahoo

After a months-long standoff, Microsoft (MSFT) has abandoned its bid for Yahoo (YHOO), people involved in the discussions said today.

Microsoft confirmed to BoomTown that talks between the two companies, which have been taking place all week, collapsed Saturday when they could not agree on a price.

According to sources close to Microsoft, the talks broke down this afternoon after a face-to-face meeting in the Seattle area that included Microsoft CEO Steve Ballmer, Kevin Johnson, president of Microsoft's Platforms & Services Division and Yahoo Co-Founders Jerry Yang and David Filo.

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