Microsoft offers to buy Yahoo for $44.6B
Not buying yahoo stock might have been a mistake. Microsoft has offered to buy Yahoo for $44.6 billion and shares of Yahoo stock have jumped by 62%. As Rex Crum writes for IMG Direct:
Technology stocks largely closed with gains Friday, but everything else took a back seat to the overwhelming attention given toward Microsoft Corp.’s unsolicited $44.6 billion offer to acquire Internet giant Yahoo Inc.
The deal values Yahoo (YHOO) at $31 a share — a 62% increase over Yahoo’s Thursday closing price of $19.18 a share — and would be the biggest acquisition in Microsoft’s (MSFT) history.
Yahoo shares surged $9.20, or almost 48%, to close at $28.38, while Microsoft shares were down $2.15, or 6.6%, to close at $30.45 as investors reacted to the proposed deal.
