Subscribe by EmailMicrosoft offers to buy Yahoo! for $44.6 billion
February 1, 2008 by Geeks are Sexy | 4 comments
Yahoo! has been having some trouble lately. After reporting massive drops in revenue this year, Microsoft has offered to buy it out for a massive $44.6 billion. Apparently, the unsolicited move will create stronger competition for Google.
It hasn’t been a great year for the struggling company. Yahoo! shares fell 46 percent in October and have been steadily dropping since. Meanwhile, CEO Jerry Yang announced a restructuring plan. Restructuring? Try “massive downsizing.” The move will boot about 1,000 people from the company. Microsoft expects to change that downward trend, however, and hopefully revive the third-rate web portal.
Ironically, after quickly Googling Google’s stock price, the first result from Yahoo! Finance indicates the company’s stock is hovering at just over $500 per share.
It doesn’t seem clear yet as to if this buy out will save Yahoo!, create competition for Google, or both. Microsoft has its own search service, which will either have to merge with Yahoo!’s or be scrapped completely to create a consolidated searching solution that rivals Google’s prowess.
As of yet, this is just an offer. However, analysts believe it will become a reality in no time considering Microsoft is offering 62 percent more than Yahoo!’s current share price.
Microsoft wants to purchase Yahoo [BBC]
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I hope the will buy yahoo and then beat google :p
I’ve been wondering when such a marriage would take place. It’s long overdue, and everyone knows how badly Microsoft wants to beat out Google for search mastery.
This could be a good year for us. If they actually merge, then Google won’t be able to be a bully like before.
It’s always good for the customers there’s some competition, of course.
How much money does Microsoft have. At least I could not have imagined it buying Yahoo!