Yahoo! and Microsoft deal approved by Australia, Canada

Microsoft and Yahoo! have been notified that Australian and Canadian authorities have separately concluded their reviews and have no objections to our proposed search agreement. "We continue to believe that this deal will create a true, competitive alternative in the marketplace that will benefit consumers, advertisers and publishers," Yahoo! and Microsoft said. "We remain hopeful […]

Microsoft and Yahoo! have been notified that Australian and Canadian authorities have separately concluded their reviews and have no objections to our proposed search agreement. "We continue to believe that this deal will create a true, competitive alternative in the marketplace that will benefit consumers, advertisers and publishers," Yahoo! and Microsoft said. "We remain hopeful that the agreement will close in early 2010," they added. The agreement remains subject to review by US anti-trust regulators. Under the no-cash deal, Yahoo! will use Microsoft's new Bing search engine on its own sites while Yahoo! will provide the exclusive global sales force for premium search advertisers.