Microsoft Offer's $45billion For Yahoo - 1st Feb 2008 3:06pm
Originally Posted by MSNBC
REDMOND, Wash. - Microsoft Corp. has pounced on slumping Internet icon Yahoo Inc. with an unsolicited takeover offer of $44.6 billion in its boldest bid yet to challenge Google Inc.’s dominance of the lucrative online search and advertising markets.
The surprise offer of $31 per share, made late Thursday and announced Friday, comes with Sunnyvale-based Yahoo in a vulnerable position.
MSNBC is a joint venture of Microsoft and NBC News.
In a statement Friday, Yahoo said it will “carefully and promptly” study Microsoft’s bid.
With its profits steadily sliding, Yahoo’s stock slipped to a four-year low earlier this week and a new management team has been trying to steer a turnaround but sees more turbulence through 2008.
The announcement sent Yahoo’s share price up sharply, while Google saw its shares fall, weighted down by a fourth-quarter earnings report, released Thursday, that missed Wall Street expectations.
In a letter to Yahoo’s board of directors, Microsoft Chief Executive Steve Ballmer indicated the world’s largest software maker is determined to bring the two companies together.
The surprise offer of $31 per share, made late Thursday and announced Friday, comes with Sunnyvale-based Yahoo in a vulnerable position.
MSNBC is a joint venture of Microsoft and NBC News.
In a statement Friday, Yahoo said it will “carefully and promptly” study Microsoft’s bid.
With its profits steadily sliding, Yahoo’s stock slipped to a four-year low earlier this week and a new management team has been trying to steer a turnaround but sees more turbulence through 2008.
The announcement sent Yahoo’s share price up sharply, while Google saw its shares fall, weighted down by a fourth-quarter earnings report, released Thursday, that missed Wall Street expectations.
In a letter to Yahoo’s board of directors, Microsoft Chief Executive Steve Ballmer indicated the world’s largest software maker is determined to bring the two companies together.
Wow! Im lost for words... nice to see one company still has money to spend in the world economical downfall lol.
MSNBC News Report
