Betanews.com reports that Microsoft has offered a colossal bid for acquisition of Yahoo.
Microsoft's official statement headlined as
"Microsoft Corp. today announced that it has made a proposal to the Yahoo! Inc. Board of Directors to acquire all the outstanding shares of Yahoo! common stock for per share consideration of $31 representing a total equity value of approximately $44.6 billion. Microsoft’s proposal would allow the Yahoo! shareholders to elect to receive cash or a fixed number of shares of Microsoft common stock, with the total consideration payable to Yahoo! shareholders consisting of one-half cash and one-half Microsoft common stock. The offer represents a 62 percent premium above the closing price of Yahoo! common stock on Jan. 31, 2008"Betanews also reports,
"In its own statement this morning, Yahoo confirmed that it is considering what it characterizes as an unsolicited takeover proposal."[The] Board of Directors will evaluate this proposal carefully and promptly in the context of Yahoo's strategic plans and pursue the best course of action to maximize long-term value for shareholders," the statement reads."
Click here for Mircosoft's official statement.
Click here for Yahoo's official statemen.