Microsoft's Yahoo Bid

Microsoft Offers to Buy Yahoo reports in brief that Microsoft has put in an offer to acquire Yahoo in a deal valued at $44.6 billion in cash and stock. This News.com article offers more detail on the bid, which has not been rejected outright by Yahoo, though the search giant characterizes the offer as "unsolicited." Word is:
Microsoft's offer, which was contained in the letter to Yahoo's board, amounts to $31 a share and represents a 62 percent premium over Yahoo's closing price on Thursday. Microsoft said it will offer shareholders the option of cash or stock.

"We have great respect for Yahoo, and together, we can offer an increasingly exciting set of solutions for consumers, publishers, and advertisers while becoming better positioned to compete in the online-services market," Microsoft CEO Steve Ballmer said in a statement.

Yahoo said in a responding statement that its board "will evaluate this proposal carefully and promptly, in the context of Yahoo's strategic plans, and pursue the best course of action to maximize long-term value for shareholders."