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By: Going Like Sixty
Microsoft Offers $44.6 Billion for Yahoo
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Remember when Google bought YouTube and the joke was GooTube? Now Microsoft is trying to buy Yahoo. So is that Microhoo, or YaSoft? It’s not a friendly deal, Microsoft made a $44.6 billion bid on the company. Yahoo jumped by 50% at the start of trading while the Google and Microsoft stocks fell.
Steve Ballmer, Microsoft’s chief executive said it would be the “next major milestone,” adding, “We are very, very confident this is the right path for Microsoft and for Yahoo.”
Microsoft wants the deal to close by the end of the year. Should be interesting.
Microsoft hopes to close the deal by the end of the year. Ballmer said that Microsoft has been in "off and on" talks with Yahoo for 18 months and said he called Yahoo CEO Jerry Yang Thursday night to tell him the bid was coming.
Microsoft made the bid early Friday. In a statement, the company said the offer allows Yahoo shareholders to elect to receive cash or a fixed number of shares of Microsoft common stock, with the software giant's offer consisting of one-half cash and one-half Microsoft common stock.
(money.cnn)
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Via: money.cnn
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