Microsoft bids $45 billion for Yahoo

by admin February 1, 2008 at 2:23 pm

Software giant makes cash and stock offer of $31 a share, a 62% premium from Yahoo’s closing price on Thursday.

NEW YORK (CNNMoney.com) — Microsoft Corp. made an unsolicited $44.6 billion cash and stock bid for Yahoo on Friday, a deal that could shake up the competitive and lucrative market for Internet search.

In a statement, Yahoo acknowledged receipt of the offer and said its board would evaluate the proposal “carefully and promptly.”

The deal would pay Yahoo shareholders $31 a share, which represents a 62% premium from where Yahoo stock closed on Thursday.

Read more: CNNMoney.com