Friday, February 01, 2008

Microsoft Makes Bid for Yahoo -

This is going to be an interesting day...

Microsoft Corp. Friday offered to buy Yahoo Inc. for $44.6 billion, a move designed to help both companies compete against industry leader Google Inc.

The approach, in a letter to Yahoo's board, comes as Yahoo continues to struggle against Google in the race for online-advertising revenue and Internet-search market share.

The offer, $31 a share in cash and stock, is a 62% premium to Thursday's closing price. Microsoft said Yahoo holders would be able to trade their shares for cash or 0.9509 Microsoft shares a piece, with no more than half of the overall purchase price paid in cash.

Microsoft Makes Bid for Yahoo -

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