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.
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."