I'm really not a huge Microsoft fan but I just had to post this. Yahoo! has been struggling over the last couple of years trying to restore itself to the early glory days of the web. There is little chance that this offer would have accepted 6 months ago. But today Yahoo! is in trouble and about to be gobbled up by the MFST shark.
http://biz.yahoo.com/ap/080201/microsoft_yahoo.html?.v=1
In a letter to Yahoo's board of directors, Microsoft Chief Executive Steve Ballmer said the company will bid $31 per share, representing a 62 percent premium to Yahoo's closing stock price Thursday, and emphasized that the deal isn't subject to financing.
Microsoft said it sees at least $1 billion cost savings generated by the merger, and intends to offer significant retention packages to Yahoo engineers, key leaders and employees. The software giant said it believes the takeover would receive regulatory clearance and close in the second half of 2008.
Friday, February 01, 2008
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