Microsoft Corp Offers $44.6 Billion For Yahoo Inc

Microsoft on Feb 1, offered to take over Yahoo! Inc for about $ 44.6 billion. Yahoo! said its Board of Directors will valuate the unsolicited 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. The Microsoft CEO, Mr Steve Ballmer, in a statement, said the deal will help both the companies to become better positioned to compete in the online services market. Microsoft said its $31 per share offer represented a total equity value of approximately $44.6 billion of Yahoo!. Microsoft''s proposal will permit the Yahoo! shareholders to elect to get 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. The combined assets and strong services concentrate of these two companies will enable us to achieve scale economics while reaching R&D critical mass to deliver innovation breakthroughs. The offer was disclosed first in a letter sent to the Yahoo! Board of Directors on January 31 by Mr Ballmer.