Microsoft to buy Yahoo?
February 1, 2008
The BBC are reporting that Microsoft has offered to buy the search engine company for $44.6bn in cash and shares
The BBC go on to say The offer, contained in a letter to Yahoo’s board, is 62% above Yahoo’s closing share price on Thursday. Yahoo cut its revenue forecasts earlier this week and said it would have to spend an additional $300m this year trying to revive the company. It has been struggling in recent years to compete with Google, which has also been a competitor to Microsoft.
“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.
More news to follow
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