Saturday, February 2, 2008

Microsoft bid for Yahoo

Microsoft has proposed to Yahoo's Board Of Directors its interest to acquire all Yahoo shares for $31,
which is currently estimated to be worth $44.6 billion.
The deal is half cash, half stock.

"Today the market is increasingly dominated by one player who is consolidating its dominance through acquisition," Microsoft CEO Steve Ballmer wrote in a letter to Yahoo!'s board of directors.
"Together, Microsoft and Yahoo! can offer a credible alternative for consumers, advertisers and publishers."
By doing so, Microsoft aims to further consolidate the Web advertising industry
and create a credible competitor to Google.

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