$9 BILLION IN CASH, PROFIT GUARANTEE WERE ON TABLE BEFORE AD DEAL REACHED WITH GOOGLE
Microsoft executives, spurned twice in their attempt to buy Yahoo, crafted a third offer, one they thought the company couldn't refuse.
But Yahoo nonetheless turned it down and signed a partnership with Google on Thursday, befuddling Microsoft executives.
Kevin Johnson, a key member of Microsoft's negotiating team, said in a letter to employees Friday that his company had offered Yahoo $9 billion in cash, "which could have been used by Yahoo to reward their shareholders."
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