Wall Street traded lower Monday as investors grew cautious following Microsoft Corp.'s decision to withdraw its bid for Yahoo Inc.
Microsoft had offered $43.7 billion (euro28.27 billion) to buy Yahoo Inc., but scrapped the bid late Saturday after the software maker and the Internet provider could not agree on a sale price.
The failed deal came as a disappointment to Wall Street, as merger-and-acquisition activity tends to boost shareholder value, and also signals to the broader market that corporate America is …
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