Yahoo, Microsoft need more time to ink pact
In a regulatory filing on Wednesday, Yahoo says the companies have agreed to extend the deadline by which they will have a definitive agreement.
Why would anything between Microsoft and Yahoo go quickly?
After, the two companies finally announced that they had in July.
However, the two sides are apparently still working out the terms of what they agreed to in the "binding letter agreement". In a regulatory filing on Wednesday, Yahoo said it and Microsoft need more time to iron out a definitive accord.
"The Letter Agreement specified that the parties would execute definitive agreements by October 27, 2009, but given the complex nature of the transaction, there remain some details to be finalized," Yahoo said in a filing with the U.S. Securities and Exchange Commission.
They have time, as regulators are still pouring over the deal.
In a statement, Microsoft said the two companies remain committed to their arrangement.
"Given the complex nature of this transaction, there remain some issues that need some additional clarity and definitive details," a Microsoft representative said in a statement. "So the teams at Yahoo and Microsoft are continuing to work on the remaining details, and we have mutually agreed to extend the period to negotiate and execute the agreement."
Microsoft said "both companies are optimistic that we will be able to close this deal by early 2010."