Microsoft Makes a Bid for Yahoo
February 2nd, 2008
Microsoft offers to buy the search portal for $44.6 Billion.Fearing that they are slipping behind Google, Microsoft is making a big play to take control of Yahoo.“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 […]
Microsoft offers to buy the search portal for $44.6 Billion.
Fearing that they are slipping behind Google, Microsoft is making a big play to take control of Yahoo.
“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,” Microsoft CEO Steve Ballmer said in a statement.
Yahoo said in a responding statement that its board “will evaluate this proposal carefully and promptly, in the context of Yahoo’s strategic plans, and pursue the best course of action to maximize long-term value for shareholders.”
If Yahoo accepts the $31 a share buyout, Microsoft will finally have the tools and traffic, to compete against Google for online advertising.
“Today, the market is increasingly dominated by one player, who is consolidating its dominance through acquisition,” Microsoft said. “Together, Microsoft and Yahoo can offer a credible alternative.”
It is quite ironic for Microsoft to be talking about Google in much the same way people talked about them during their anti-trust battle.
[via CNET]
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Entry Filed under: Gadget Crunch
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