01
February
Microsoft wants to purchase Yahoo
Microsoft has offered to buy the search engine company Yahoo for $44.6bn (£22.4bn) in cash and shares. The offer, contained in a letter to Yahoo’s board, is 62% above Yahoo’s closing share price on Thursday.
The proposed acquisition, the largest ever by Microsoft, would give some relief to Yahoo’s long-suffering shareholders, who have seen the company’s stock slide nearly 32 percent this year. It would also create the most formidable competitor yet for Google, the search engine giant.
“It is a fantastic offer. It is game on,” said Colin Gillis from Canaccord Adams.
“This consolidates the marketplace down to Google versus Microsoft. These two companies will be going head to head.”
