Microsoft's CEO on Wednesday indicated that the company is unlikely to raise its bid for Yahoo and is prepared to walk away from the deal.
Steve Ballmer, speaking at a conference in Milan, Italy, said "we know what Yahoo's worth. $44 billion is a lot of money," according to a Dow Jones report.
Ballmer added that Microsoft is "prepared to move forward alone without Yahoo."
Yahoo on Tuesday reported that its first-quarter net income increased dramatically and reported earnings per share of 11 cents, 2 cents above analyst estimates.
on Tuesday, ahead of Yahoo's earnings report.