Bill Gates, Chairman of the software giant Microsoft announced on Tuesday that the key decisions regarding companies withdrawal of the $47.5 billion bid for the search engine company Yahoo! Inc would be made by Chief Executive Officer Steve Ballmer.
Microsoft made a bid of $44.6 billion for Yahoo Inc. late February with the plans of having a monopoly in online advertising and internet search. However, Yahoo was not pleased with the offer and requested more. A $47.5 billion was in returned as bid by Microsoft. This again was rejected by Yahoo and finally Microsoft withdrew the bid later on Saturday.
Bill Gates made these remarks after a meeting with the South Korean President, Lee Myung-bak while he was on a short trip to South Korea.