Got this news from WebProNews.com saying that Microsoft, a top software provider, offered $44.6 billion to buy Yahoo!, considered the most-trafficked online property. Microsoft has offered Yahoo shareholders a 62 percent premium on their shares to sell the company.
Microsoft Corp. (NASDAQ:MSFT) today announced that it has made a proposal to the Yahoo! Inc. (NASDAQ:YHOO) 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.
Accordingly, the combination will create a more efficient company with synergies in four areas: scale economics driven by audience critical mass and increased value for advertisers; combined engineering talent to accelerate innovation; operational efficiencies through elimination of redundant cost; and the ability to innovate in emerging user experiences such as video and mobile.
Tags: Google, In the News, Internet
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Feb 2, 2008 at 12:14:37
Just heard about this, I suppose it’s in their best interest with the growing success of google and mozilla… but the question is, how much is Yahoo! going to change with this acquisition?
fragileheart’s last blog post..Winter storm + No work = jumping on the blog-wagon
Feb 2, 2008 at 20:07:42
Surely, Yahoo! services will change a lot.