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Hours after Microsoft CEO Steve Ballmer tantalized investors with the possibility of putting a deal with Yahoo back on the tracks, the company issued a two-sentence statement shooting down the prospect of a merger and saying there were no talks of any kind between the companies at this time.
“Our position hasn’t changed. Microsoft has no interest in acquiring Yahoo!; there are no discussions between the companies,” the company said.
Ballmer himself didn't really hint at any interest in acquiring Yahoo, suggesting only that there might be "... continuing opportunities to"' talk about a search partnership in the future, he said.
But that was enough to send depressed Yahoo shares soaring as much as 14%. They remain up 10% even now because ... well, investors believe what they want to believe, I guess. On the other hand, 10% is just a dollar and change at this level: Yahoo is about 10% above its 52-week low, and 62% off its 52-week high.
See also:
- Ballmer Talks Up Yahoo Again, Yahoo Stock Surges
