Microsoft says deal with Yahoo still makes sense
Shares of Yahoo jumped 12 percent after Microsoft Chief Executive Steve Ballmer reportedly said that a deal between the companies may still make economic sense for shareholders.
U.S. Congress roiled by Air Force tanker decisionAccording to a Bloomberg report, Ballmer told a Gartner conference in Orlando, Florida, that while the companies may pursue a search partnership in the future, there are no discussions now.
A spokesman for Microsoft had no immediate comment.
Talks between Microsoft and Yahoo broke off in July after the Web company rejected Microsoft's proposal to buy its search business and enact a revenue-sharing partnership.
Yahoo had also rejected a full acquisition offer from Microsoft in May that was priced at $33 per share.
Since then, Yahoo shares have plunged to as low as $11.37. The stock rose $1.12, or 9.5 percent, to $12.87 in early afternoon trading on the Nasdaq. Microsoft shares were down .2 percent, or 6 cents, at $22.60.
(Reporting by Franklin Paul; editing by Gunna Dickson)
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