| Microsoft bid for Yahoo at $44.6 b
Microsoft bid for Yahoo at $44.6 b
The announcement came a day after Yahoo chief executive Terry Semel left the Internet firm's (yahoo) board of directors.
Microsoft said it had proposed 31 dollars per share to Yahoo's board, "representing a total equity value of approximately 44.6 billion dollars"
The offer represents a 62 percent premium above the closing price of Yahoo stock on Thursday.
Yahoo stocks are now up 8.64 (45.05%) as of 12:47pm EST
Microsoft stocks are down 2.19 (6.72%) as of 12:47 pm EST
Google stocks are down 49.34 (8.74%) as of 12:47 pm EST
Microsoft is trying to catch up to Google for search engine, which everyone trails far behind. This deal is all about the advertising market that Google holds, which Microsoft wants a better part of.
Microsoft says this merger will save the company 1 billion dollars a year. |