Microsoft Corp. Chairman Bill Gates said Wednesday the world's biggest software company has no plan to launch a fresh bid for search engine operator Yahoo Inc. after abandoning its $47.5 billion takeover attempt.
"We put a lot of effort into talking to Yahoo and the conclusion was reached that we should pursue our independent paths," Gates said at a news conference in Tokyo.
Microsoft Chief Executive Officer Steve Ballmer "made a very clear statement and I will stick to what he said," Gates said. "Now at this point, Microsoft is focused on its independent strategy."
Microsoft withdrew its three-month-long bid for Yahoo on Saturday after the two failed to agree on a price.
Microsoft, the third-largest player in the U.S. search engine market, wanted No. 2 Yahoo so it could better vie with leader Google Inc.
Microsoft made an unsolicited offer for Yahoo in early February, proposing to buy all of its outstanding common shares for $44.6 billion, or $31 per share.
Yahoo rejected the proposal as a substantial undervaluation of its worth, spurring Microsoft to raise its bid to $33 a share. But Yahoo wanted at least $37 a share, up $6 from Microsoft's original bid.
In a statement Saturday, Ballmer said: "We have a talented team in place and a compelling plan to grow our business through innovative new services and strategic transactions with other business partners. While Yahoo would have accelerated our strategy, I am confident that we can continue to move forward toward our goals."
Microsoft cofounder Gates was visiting Tokyo for talks with business partners and politicians to drum up more business for the software giant in Japan.
"Microsoft has a huge commitment to this market," Gates said.
Information from Kyodo added
