WorldWatch has received reports that Microsoft Corp., the world's biggest software maker, made an unsolicited offer to buy Yahoo! Inc. for about $44.6 billion, or $31 a share. This news report has also beem reported by Bloomberg.
The offer is 62 percent more than Yahoo's closing stock price yesterday, according to a Microsoft statement distributed by PR Newswire. Yahoo shareholders can choose cash or stock, Microsoft said.
This attempt of Microsoft and Yahoo to work together started in 2006 and early 2007, according to a letter Microsoft Chief Executive Officer Steve Ballmer sent to the Yahoo board., however Yahoo rejected the idea of being taken over by Microsoft a year ago.
While a commercial partnership may have made sense at one time, Microsoft believes that the only alternative now is the combination of Microsoft and Yahoo!!!
For Yahoo shareholders today will certainly be a big day in that the value of the shares are sure to go through the roof.
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