Breaking news tonight that Microsoft reportedly dangled a higher takeover bid in front of Yahoo today (Friday,) hoping to reach a friendly deal after weeks of saber rattling. MS apparently upped its offer "by several dollars" per share, according to a New York Times report that cited unnamed sources. Yahoo began demanding a higher offer shortly after Microsoft made its unsolicited bid in February, which was originally valued at $44.6 billion, or $31 per share. That offer, which was made half in cash and half in stock, is currently valued at $42.3 billion, or $29.40 per share, because Microsoft shares have declined. Several of Yahoo's shareholders are reportedly looking to sell their stakes for at least $35 per share, a price that would value the deal about $50 billion. If MS goes for that... It''ll be a done deal before the month is out.
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Don't worry, there's plenty more where that cam from.
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» Know More Media Review: Microsoft/Yahoo Chronicles from Know More Media
The internet has been buzzing with speculation ever since Microsoft (NASDAQ:MSFT) put forth its offer to buy out Yahoo (NASDAQ:YHOO), which Yahoo interpreted as a hostile take over attempt. Last week however, Microsoft withdrew it's offer which has... [Read More]
Tracked on: May 13, 2008 9:20 PM | Permalink to Trackback