Monday, June 16, 2008

Microsoft offered $9 bln for Yahoo stake, search deal | Technology | Reuters

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When Yahoo Inc turned down the latest offer from Microsoft Corp this week, it walked away from $9 billion in cash and $1 billion a year in additional operating profit, Microsoft said on Friday.

In an e-mail to employees, Microsoft platforms and services division president Kevin Johnson said it had offered $8 billion for a 16 percent stake in Yahoo and $1 billion to buy Yahoo's search business and assume its operations.

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"Unfortunately Yahoo has chosen a different course, and yesterday announced an agreement that would start to consolidate over 90% of the paid search advertising market in Google's hands," said Johnson in the e-mail.

Microsoft offered $9 bln for Yahoo stake, search deal | Technology | Reuters

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