Microsoft to Buy Yahoo for $44.6 Billion
Posted February 1st, 2008 by Mihnea Boiangiu
Huge news on the market! Microsoft has made an official bid to buy the giant Yahoo. Competing with Google Inc. isn’t so funny lately. Google has acquired so many online services that Microsoft and Yahoo remained far behind. Microsoft Chief Executive Steve Ballmer said the company will bid $31 per share, the total offer reaching the amazing amount of $44.6 billion.
Yahoo has received an official letter with the proposed deal, making its share price go up 54 percent in premarket trading. If the Yahoo board accepts the transaction, the shareholders could choose to receive cash or Microsoft common shares, with the total purchase consisting of 50 percent each cash and stock.
According to the letter, Ballmer made a proposal last year, but Yahoo board’s felt it was not the right time. They believed in the success “on a reformulated strategy based on certain operational initiatives, such as Project Panama, and a significant organizational realignment.” Unfortunately, nothing changed since last year and Yahoo might go for the deal. The Chief Executive Jerry Yang said this week the company will cut 1,000 jobs, or 7 percent of its work force, in an effort to cut costs.
February 1st, 2008 at 4:10 pm
I have been a loyal yahoo user for over 10 years but if they sell to microsoft I’ll switch email providers
February 1st, 2008 at 7:41 pm
I use MSN services too, but frankly I like Yahoo more. And more than that, I prefer Google.
February 2nd, 2008 at 8:05 pm
This would look good because Microhoo would be a big bull in front of Google.
Would that scare them?
February 3rd, 2008 at 7:08 pm
Quite an offer. While I don’t fancy the idea of Microsoft owning a huge chuck of search engine results (as if they already do not) I do like the idea of Google alternatives slimming.
Yea… I’m a Google fan.
I’m still upset with Microsoft for continuing to make IE so non compliant in website design. A source of endless frustration. And the majority of people still use it. Kills me.
February 4th, 2008 at 3:53 pm
I’m sure you do, actually you’re a designer from what I see, and yes Microsoft as a big “against” layouts.