Software Industry Professionals
Home   Members   Join   Industry   Consumers   Software   Contact Us   About Us
 

Microsoft proposes to acquire Yahoo!

1 February 2008

Microsoft today announced that it has made a proposal to the Yahoo! Inc. Board of Directors to acquire all the outstanding shares of Yahoo! representing a total equity value of approximately $44.6 billion.

If it goes ahead, the proposal would see Microsoft acquire common stock for US$31 per share.

Microsoft's proposal would allow the Yahoo! shareholders to elect to receive cash or a fixed number of shares of Microsoft common stock, with the total consideration payable to Yahoo! shareholders consisting of one-half cash and one-half Microsoft common stock.

Microsoft's offer represents a 62 percent premium above the closing price of Yahoo! common stock on 31 January 2008.

"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," said Steve Ballmer, chief executive officer of Microsoft.

"We believe our combination will deliver superior value to our respective shareholders and better choice and innovation to our customers and industry partners."

Microsoft has developed a plan and process that will include the employees of both companies to focus on the integration of the combined business. Microsoft intends to offer significant retention packages to Yahoo! engineers, key leaders and employees across all disciplines.

Read a copy of the letter sent by Microsoft to the Yahoo! Inc. Board of Directors here


Click here to return to the developer information site.


 

Advertise with us

Copyright © 2006 - 2015 Multimedia Australia Pty. Ltd.
Australian Company Number 096 830 394. All rights reserved.
ABN 78 096 830 394
Terms of use. Disclaimer. Privacy Statement.

An initiative of Multimedia Australia.
An initiative of Multimedia Australia.