Microsoft makes bid for Yahoo

Technology giant Microsoft Corp said on Friday that it had offered to acquire Internet media company Yahoo Inc for $44.6 billion in cash and stock.

Microsoft said it had offered to buy Yahoo for $31 per share, which it said represented a 62 percent premium above the company’s closing stock price on Nasdaq on Thursday.

“We have great respect for Yahoo, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market,” Microsoft Chief Executive Steve Ballmer said in a statement. (link)

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