Microsoft mounts hostile bid to buy Yahoo for $44.6 billion

Feb 02, 2008 Mergers and Acquisitions

Microsoft announced that it was planning to acquire all the outstanding shares of Yahoo common stock for per share consideration of $31 representing a total equity value of approximately $44.6 billion. This offer represents a 62% premium over the closing price of Yahoo common stock on Jan. 31, 2008.

This is not the first time Microsoft has eyed it’s rival, and had made an attempt to buy Yahoo last year as well.

With the number of redundant jobs this will create, I guess engineers from both companies are going to be on the job bandwagon !