Nov. 7, 2008 / 10:56 AM

Ballmer: Microsoft will not pursue Yahoo!

Microsoft CEO Steve Ballmer, shown June 7, 2007. (UPI Photo/Matthew Healey)

Microsoft CEO Steve Ballmer, shown June 7, 2007. (UPI Photo/Matthew Healey) | License Photo

REDMOND, Wash., Nov. 7 (UPI) -- Microsoft Corp. Chief Executive Officer Steve Ballmer said Friday the company was not interested in pursuing California Internet search firm Yahoo! Inc.

"We moved on," Ballmer said at a conference in Australia, the Financial Times reported Friday.

Yahoo! co-founder Jerry Yang said Wednesday he thought purchasing Yahoo! "would be the best thing for Microsoft."

"I don't think that's a bad idea at all," he said. "I think at the right price, whatever that price is."

Microsoft began a pursuit of Yahoo! in May, but broke off negotiations after pushing an initial offer to $46.5 billion -- $33 a share. Yahoo! was looking for $37 a share, the Times reported.

Yahoo! then pursued an advertising partnership with Google Inc, which ended this week when as the U.S. Justice Department raised anti-trust issues.

"It was clear that (Yahoo!) doesn't want to sell the business to us and we moved on," Ballmer said, although he opened the door for "some kind of partnership around search."

Ballmer spoke in Sydney at a meeting of the Committee for Economic Development of Australia.

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