Microsoft Offers USD 44,6 B for Yahoo
World | February 1, 2008, Friday
Software giant Microsoft offered USD 44.6 B for search engine Yahoo in attempt to compete with Google in the lucrative market. Photo by CNN
Software giant Microsoft announced Friday it offered to buy Internet search engine operator Yahoo with a cash and stock bid worth USD 44.6 billion.
The offer gives Yahoo shareholders the option to receive cash or a fixed number of shares of Microsoft common stock, CNN reported.
Microsoft said the offer represents a 62% premium on the USD 19.18 closing price of Yahoo on Thursday.
The announcement comes with Microsoft and Yahoo seeking to compete with Google as the king of the Internet and the site of choice for Web advertising.
The most popular search engine is currently worth $40 billion and expected to grow to $80 billion within three years, while Yahoo shares have lost around 30 percent of their value in the past year.
Microsoft said it expects the acquisition deal to get regulatory approval and to be completed in the second half of 2008.
The offer gives Yahoo shareholders the option to receive cash or a fixed number of shares of Microsoft common stock, CNN reported.
Microsoft said the offer represents a 62% premium on the USD 19.18 closing price of Yahoo on Thursday.
The announcement comes with Microsoft and Yahoo seeking to compete with Google as the king of the Internet and the site of choice for Web advertising.
The most popular search engine is currently worth $40 billion and expected to grow to $80 billion within three years, while Yahoo shares have lost around 30 percent of their value in the past year.
Microsoft said it expects the acquisition deal to get regulatory approval and to be completed in the second half of 2008.
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