Does Microsoft need to take on Google? Are they not making enough money with all there grossly overpriced products? - apparently not!
SAN FRANCISCO/NEW YORK (Reuters) - Microsoft Corp made a bid to buy Yahoo Inc for $44.6 billion in cash and stock, seeking to join forces against Google Inc in what would be the biggest Internet deal since the Time Warner-AOL merger.
In its boldest-ever acquisition move, Microsoft sent a letter to Yahoo's board on Thursday night, offering $31 per share for the Internet media company, a 62 percent premium over its Nasdaq closing stock price that day. The price is still below Yahoo's year-high of $34.08 in late October. Yahoo said on Friday its board will evaluate the offer.
Yahoo shares shot up 45.5 percent to $27.91.
The world's biggest software maker is seeking a joint stand against an ever more powerful Google, whose share of the global Web search market has reached 77 percent, according to Internet audience researcher comScore. Yahoo is second with 16 percent and Microsoft was a distant third with 3.7 percent.
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