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>SAN FRANCISCO - MICROSOFT and billionaire investor Carl Icahn's joint proposal for Yahoo includes US$2.3 billion (S$3.1 billion) in guaranteed annual revenue from search advertising for five years, with the option to extend the deal for another five, people familiar with the matter said.
Yahoo on Saturday rejected the proposal that would have led to Microsoft's buying its search business and left Mr Icahn, who owns nearly 5 per cent of Yahoo, in charge of the remaining company.
One source familiar with the joint proposal said on Sunday it was very similar to Microsoft's previous proposal to buy Yahoo's search business, but contained the improved revenue guarantee terms. -- REUTERS
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