Friday, February 01, 2008

Microsoft Wants to Buy Yahoo

The omnivore wars have taken a different twist with Microsoft tabling a $44.6 billion cash and share bid to buy Yahoo. The bid if successful would represent one of the biggest takeovers in American corporate history and the largest technology takeover. This latest move apparently follows an earlier friendly deal that was rejected.

Yahoo shares unsurprisingly jumped 56% some $10.71 in response.

Earlier this week Yahoo! announced 1,000 job cuts and the battles for the online search and advertising market share mean that companies need to merge to compete for market share with the dominant Google.