Tech Friday: Mr. Softy bids $44.6B for Yahoo
Posted By RichC on February 1, 2008
Big news in the technology world as Microsoft (MSFT) made a bid to bring Yahoo (YHOO) into the Mr. Softy stable. The huge 44.6 Billion dollar bid would help these two companies attempt to reign in the dominate online giant Google (GOOG). The deal would pay Yahoo shareholders $31 a share, which represents a 62% premium from where Yahoo stock closed on Thursday. (half cash, half stock bid) The share price improvement would bring Yahoo share prices back to their 52 week November 2007 highs just a couple months ago. Steve Ballmer, Microsoft’s chief executive, called the move the “next major milestone” for the software giant and said that they “are very, very confident this is the right path for Microsoft and for Yahoo.” The talks between Microsoft and Yahoo have been going on for well over a year now and this new bid will be “carefully and promptly” evaluated according to a statement from Yahoo’s board.
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