Microsoft to Buy Yahoo! WHA?!
I have to say rarely am I surprised when one company tries to buy another, but I must say that this announcement not only caught me by surprise it made me triple check its accuracy.
And yes, Microsoft made a HUGE bid for Yahoo.
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.
More as this develops. What to you think of the proposed merger?
