U.S Justice Dept Investigating Google/Yahoo Deal

The U.S. Justice Department according to Reuters, is investigating possible antitrust implications of Google’s (GOOG) two-week search test with Yahoo which may violate antitrust law.

Authorities have initiated an investigation and are currently focused on a telephone call from Google Chief Executive Eric Schmidt to Yahoo Chief Executive Jerry Yang to offer help in thwarting Microsoft’s $44.6 billion bid.

Meanwhile, later today, Microsoft Corp. Chief Executive Steve Ballmer said that his company’s $44 billion offer for Yahoo Inc. reflects Yahoo’s worth and the software maker has no plan to raise it.

Ballmer said Microsoft (MSFT) is “prepared to move forward alone without Yahoo” if the bid doesn’t succeed.

Yahoo (YHOO) had no immediate comment.

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About Ron Haruni 1071 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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