Microsoft bids $45 billion for Yahoo
Feb 1st, 2008 | Category:World News
Microsoft made an unsolicited $44.6 billion cash & stock bid for Yahoo on Friday, a deal that shakes up the competitive & lucrative market for Internet search. The deal would pay to the Yahoo shareholders about $31 a share, which represents a 62% premium from Thursday’s closing price.
Microsoft’s statement said the offer allows Yahoo (Y’HOO, Fortune 500) shareholders to elect to receive cash or a fixed number of shares of Microsoft (MSFT, Fortune 500) common stock, with the software giant’s offer consisting of one-half cash and one-half Microsoft common stock.
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