Calling it the "next major milestone" for the company, Microsoft said Friday it made an unsolicited offer to buy Internet media giant Yahoo for $44.6 billion in stock and cash. The hostile offer, if successful, is an attempt to join forces against Google in what would be the biggest Internet deal since the Time Warner-AOL merger.
Microsoft and Yahoo have been struggling to compete with Google, and have fallen behind it in the race for online advertising dollars and Internet search market share.
Microsoft offered $31 a share -- payable in the form of $31 in cash or 0.9509 of a Microsoft share -- or a 62 percent premium on Yahoo's closing price on January 31.
Yahoo responded by saying its board will reviewing Microsoft's proposal in the "context of its strategic plans" and will "pursue the best course of action to maximize long-term value" for its shareholders.
Microsoft Offers to Buy Yahoo for $44.6 Billion
Quelle: CNBC