Microsoft to bid $44.6B for Yahoo
Microsoft Corp. is offering $44.6 billion in cash and stock for search engine operator Yahoo Inc. in a move to boost its competitive edge in the online services market. The unexpected announcement Friday comes as Microsoft, the world's biggest software company, seeks new ways to compete more efrfectively against the search and online advertising powerhouse Google Inc. In a letter to Yahoo's board of directors, Microsoft Chief Executive Steve Ballmer said the company will bid $31 per share, representing a 62% premium to Yahoo's closing stock price Thursday, and emphasized that the deal isn't subject to financing.
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