Microsoft has just placed a bid this morning to buy Yahoo! out for $33 share. This brings the deal to a potential $44 Billion. Yahoo!’s stock currently sits at $19 while it waits for the morning bell.
Microsoft had tried to buy over Yahoo! last year, without any success. Both companies put out a statement that it just wasn’t the right time. So now with Yahoo! stock being a little low, and lots of shifts and changes, will this be the right moment? Google is the leader, but if Microsoft and Yahoo! do team up, they have the potential to overpower, or at least stay side by side with the internet giant. (who’s stock has also recently dropped with lower than expected 4th quarter results) As far as users are concerned, there is much grumbling that MS would most likely “wreck” their beloved Yahoo! apps. ie Flickr.
The deal would consist of cash, and Microsoft stock.
Microsoft’s letter to Yahoo! board.
Microsoft has scheduled a press conference this AM.
Notes from the press conference.
Terry Semel steps down from Board of Directors.
More on the bid as it comes in…