Updated from 12:45
is planning to pursue a standalone strategy now that its bid to acquire
has fallen apart, Chairman Bill Gates said at a press conference in Tokyo.
Steve Ballmer, the CEO of Microsoft, made similar remarks recently concerning the withdrawn offer, which was worth more than $40 billion. Some analysts believe Microsoft could return with a new acquisition attempt, but the remarks of Gates and Ballmer indicate that such a move isn't imminent.
Microsoft originally said it would pay $31 a share for Yahoo!, then sweetened the offer by $2. However, Yahoo! still wanted more, and Microsoft decided to end the takeover effort, which it had proposed in order to better compete with the Internet dominance of
"We put a lot of effort in talking with Yahoo! and the conclusion was reached that we should pursue our independent paths," Gates said at the press conference, according to a
Shares of Microsoft have turned negative on the day, at a recent $29.67, and Yahoo! was recently trading at $25.50. Google was adding 23 cents.
Elsewhere among widely held technology stocks,
was down 2.3%,
was easing 0.55% and
was rising 1.41%.
This article was written by a staff member of TheStreet.com.