Financial Times FT.com

Microsoft and Yahoo alliance

Ballmer left with questions over strategy

By Richard Waters in San Francisco

Published: May 4 2008 19:56 | Last updated: May 4 2008 19:58

One investor summed up what is likely to be a sombre reaction among Microsoft’s supporters on Wall Street as the implications of the abandoned Yahoo talks sink in: “This is a black eye for Steve Ballmer.”

In spite of offering what appeared to be an overwhelming takeover premium and spending three months stalking Yahoo, the Microsoft chief executive has been left empty-handed, at least for now.

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