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Microsoft Offers $31 Per Share for Yahoo

February 01, 2008

Microsoft Corp announced this morning that it had offered $31 per share to acquire Internet media company Yahoo Inc. in a transaction currently pegged at $44.6 billion in cash and stock.

The Redmond-based software giant’s offer represents a 62 percent premium over Sunnyvale-based Yahoo's closing stock price on January 31.
Microsoft Chief Executive Steve Ballmer issued a statement saying, “We have great respect for Yahoo, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market.”
Yahoo shares rocketed up nearly 60% to $30.50 in premarket trading following the announcement.