By Ari Rabinovitch
Steve Ballmer
"We are not bidding to buy Yahoo," Ballmer said at the
launch of Microsoft's new research and development centre in
Israel.
"Yet, we are trying to have discussions about deals with
Yahoo that might create value, but not a whole acquisition of
the company," he said without elaborating further.
Earlier this month, Microsoft walked away from a proposal
to acquire Yahoo for $47.5 billion, or $33 per share, after
Yahoo rebuffed the offer, saying it would only settle for $37 a
share.
Microsoft has now made an alternative offer, proposing to
buy Yahoo's search business and take a minority stake in the
Web firm, a person familiar with the discussions told Reuters
this week.
Should a deal be completed, it would forge an alliance
between the two companies that would represent an alternative
means of competing with rival Google Inc, which has turned into
an online advertising powerhouse.
For its part, Yahoo has said it was considering a "number
of value maximizing strategic alternatives" and would evaluate
any proposal made by Microsoft.
Yahoo on Sunday confirmed with Microsoft that it was not
interested in pursuing an acquisition of all of the company but
it remained open to pursuing any deal in the best interest of
stockholders.
Investor Carl Icahn last week launched a proxy battle in
order to pressure Yahoo to agree to be sold to Microsoft. A
number of other large Yahoo shareholders have since said they
would back Icahn.
Microsoft is also believed to be interested in buying
social network site Facebook as a means of expanding its
Internet business. Microsoft already has a small stake in
Facebook.
"There's nothing particularly new on that front," Ballmer
said. "We have a great relationship with Facebook and we look
to continue to invest in that partnership."
(Writing by Steven Scheer, editing by Elizabeth Fullerton)
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