Microsoft bids $44.6 billion to buy Yahoo
7 Min Read SAN FRANCISCO/NEW YORK (Reuters) - Microsoft Corp offered to buy Yahoo Inc for $44.6 billion, in a bold bid to transform two ailing Internet businesses into a worthy competitor for market leader Google Inc. In what would be the biggest Internet deal since the ill- fated Time Warner-AOL merger, Microsoft sent a letter to Yahoo’s board on Thursday night to offer $31 per share in cash and stock. The price is a 62 percent premium over Yahoo’s Thursday close, but only about a quarter of what the Internet company was worth at the height of the dotcom bubble in 2000.
Source: reuters.com