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No plans to raise offer for Yahoo: Microsoft

Microsoft CEO says Microsoft's $44 billion offer for Yahoo Inc reflects the company's worth and there are no plans to raise it.

business Updated: Apr 24, 2008 02:59 IST

Microsoft Corp's chief executive officer said on Wednesday that Microsoft's $44 billion offer for Yahoo Inc reflects the company's worth and there are no plans to raise it.

"We know what Yahoo's worth. $44 billion is a lot of money," CEO Steve Ballmer said at a conference in Milan.

Ballmer added that Microsoft is "prepared to move forward alone without Yahoo" if the bid doesn't succeed.

The cash-and-stock bid -- valued at $44.6 billion, or $31 per share, when it was first made -- is now worth about $43 billion, or $29.88 per share.

Without specifying a precise price, Yahoo has maintained it's worth more to Microsoft even though its shares had fallen below $20 before the bid.