Microsoft: “Offer for Yahoo is Generous”

Chief Executive Steve Ballmer of Microsoft, stated today that their offer for Yahoo is fair, and it doesn’t intend to raise it.

“Our bid is quite generous, roughly eighty times earnings…the combination would make a great company,” Ballmer said at a conference with business leaders in Madrid.

“If we don’t hear from Yahoo, we’ve said we’ll go to their shareholders,” Ballmer added.

Yahoo is trading down $.57 at $26.73.