Gates: Microsoft Will Follow 'Independent' Path

May 7, 2008 9:59 a.m. EST

Tokyo, Japan (AHN) - Microsoft Chairman Bill Gates said the software giant will follow an "independent strategy" following the collapse of months-long negotiations to acquire Internet company Yahoo.

Talking to reporters, Gates said the company is working on advancing its Internet search services without the Google rival.

Over the weekend, Microsoft walked away from its bid to acquire Yahoo after failing to bridge a $4 per share gap. CEO Steve Ballmer reportedly had offered Yahoo $33 per share, increasing its offer to $44.6 billion. However, Yahoo founder and CEO Jerry Yang had asked for $37 per share.