According to the Associated Press, Microsoft has given up and is walking away from the deal to buy-out Yahoo. Check back for any developments. UPDATED 5:20 PM PDT: C|Net has confirmed it is over between Microsoft & Yahoo: In a letter to Yahoo’s CEO Jerry Yang, Microsoft chief Steve Ballmer confirmed that Microsoft was willing to offer $33 a share, but that Yahoo was holding out for at least $37 a share, or $5 billion more than Microsoft was prepared to spend. In the letter, Ballmer also says he is ruling out a direct offer to shareholders. “After careful consideration,…