David Kirkpatrick

February 1, 2008

Microsoft makes unsolicited offer for Yahoo

Filed under: Business, Technology — Tags: , , , — David Kirkpatrick @ 5:06 pm

This would shake the internet/tech business world up a bit.

The $44.6 billion bid ($31 per share) is a direct challenge to Google.

From the article:

In conference call Friday morning, Microsoft Chief Executive Steve Ballmer indicated he won’t take no for an answer after Yahoo rebuffed takeover overtures a year ago.

“This is a decision we have — and I have — thought long and hard about,” Ballmer said. “We are confident it’s the right path for Microsoft and Yahoo.”

Besides the question of Yahoo’s acceptance, Microsoft’s bid also faces regulatory scrutiny in Washington and Europe. On Friday, the Justice Department said it is “interested” in reviewing antitrust issues. European Union officials declined to comment.

To underscore its resolve, Microsoft is offering a 62 percent premium to Yahoo’s closing stock price Thursday. If the deal is consummated, it would be by far the largest acquisition in Microsoft’s history, eclipsing last year’s $6 billion purchase of online ad service aQuantive.

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