Following remarks by Microsoft Chief Executive Officer Steve Ballmer during the Gartner Symposium ITxpo in Orlando, shares of Yahoo exploded on the possibility of the two giants reopening acquisition negotiations. Ballmer indicated that the acquisition of Yahoo “would make sense economically,” pointing out that not only the Redmond company's shareholders, but also those of the Cupertino-based Internet giant would benefit from such a move. However, in an official statement later yesterday, Microsoft denied that the Yahoo deal is rematerializing. “Our position hasn’t changed. Microsoft has no interest in acquiring Yahoo!; there are no discussions between the companies,” the software giant stated. While Ballmer's comments were interpreted as a sign that Microsoft was yet again looking to Yahoo as a fast solution to close a portion of the gap that separates the Redmond giant from Google on the search engine market. Yahoo shares, which were trading at under $11, jumped approximately 10% to $12.9 just because of Ballmer's remarks.
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