Archive for February, 2008
Microsoft Proposes Acquisition of Yahoo! for $31 per Share
Microsoft Corp. is offering $44.6 billion in cash and stock for search engine operator Yahoo Inc. in a move to boost its competitive position in the online services market.
The unexpected announcement Friday comes as Microsoft, the world’s biggest software company, seeks new ways to compete more effectively against the search and online advertising powerhouse Google Inc.
Here is what the official site reads-
Microsoft Corp. today announced that it has made a proposal to the Yahoo! Inc. Board of Directors to acquire all the outstanding shares of Yahoo! common stock for per share consideration of $31 representing a total equity value of approximately $44.6 billion. Microsoft’s proposal would allow the Yahoo! shareholders to elect to receive cash or a fixed number of shares of Microsoft common stock, with the total consideration payable to Yahoo! shareholders consisting of one-half cash and one-half Microsoft common stock. The offer represents a 62 percent premium above the closing price of Yahoo! common stock on Jan. 31, 2008.
News source: MSNBC NEWS
Read more on Microsoft Press Page
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