Yeah, Microsoft is at it again, trying to get one up on google. Its trying to buy good old yahoo now.
Microsoft Corp. made an unsolicited $44.6 billion cash and stock bid
for Yahoo on Friday, setting the stage for a deal that would shake up
the competitive and lucrative market for online advertising.
Yahoo shareholders would receive $31 a share, which represents a 62% premium over Yahoo stock price one day earlier.
Steve Ballmer, Microsoft’s chief executive, called the move the “next major milestone” for the software giant.
“We are very, very confident this is the right path for Microsoft and for Yahoo,” Ballmer said.
Microsoft
hopes to close the deal by the end of the year. Ballmer said that
Microsoft has been in “off and on” talks with Yahoo for 18 months and
said he called Yahoo CEO Jerry Yang Thursday night to tell him the bid
was coming.
Microsoft
announced the bid early Friday. In a statement, the company said the
offer allows Yahoo shareholders to elect to receive cash or a fixed
number of shares of Microsoft common stock, with the software giant’s
offer consisting of one-half cash and one-half Microsoft common stock.
In a statement, Yahoo acknowledged receipt of the offer and said its board would evaluate the proposal “carefully and promptly.”
But the sad part is Microsoft would still be second in the search business and still they would be making their same old overpriced software. And yeah their stock price fell after they decided to make the bid public.
Google would be watching this closely 🙂 and looks like someone at Yahoo is gonna get rich soon. My only hope is that if this deal goes through, the ideas of Yahoo would combine with the money power that Microsoft has and give us something better than, what both of them can offer separately. But sadly, it may create another internet monopoly too which is scary because Microsoft is involved.
Via CNN.com
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Evil Laughter!!!!!!!! 