Tuesday, February 19, 2008

Microsoft to Acquire Yahoo For $44.6 Billion

Microsoft has made an official proposal to acquire Yahoo in a deal worth $44.6 billion in cash and stock, at a price of $31 per share, which represents a 62 percent premium for shareholders.

The offer has been turned down by Yahoo! recently.

Last week, Microsoft responded to Yahoo’s rejection of their $44.6 billion acquisition offer by writing that they “reserve the right to pursue all necessary steps to ensure that Yahoo!’s shareholders are provided with the opportunity to realize the value inherent in our proposal.” Today, confirmation that Microsoft will go hostile in their efforts to acquire Yahoo, with DealBook reporting that the software giant will attempt to seize control of Yahoo’s Board of Directors, setting the stage for a vote to approve the deal.

Detail report:

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