Microsoft has made an unsolicited offer of $44,600,000,000.00 to buy Yahoo.
It is a bid of $31 a share, which is 62 percent more than the closing price of Yahoo yesterday.
The main reason is to challenge Google which is growing at a faster rate than Microsoft and dominates search and online advertising. Some are calling it a desperate move.
Yahoo said the bid was unsolicited and that its board
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will evaluate this proposal carefully and promptly, in the context of Yahoo's strategic plans, and pursue the best course of action to maximize long-term value for shareholders.
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There are a lot more details. Below are some articles with those details:
Bloomberg.com: Worldwide
Microsoft bids $44.6 billion for Yahoo | CNET News.com
Microsoft bids $44.6B for Yahoo - CNN.com
Microsoft offers $44.6 bln for Yahoo; targets 'dominant player' - MarketWatch