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Microsoft Making an Offer for Yahoo: What Does it Mean?
February 1, 2008
Microsoft just announced an unsolicited offer to buy Yahoo! for $44.6 billion (see the letter from Steve Ballmer to the Yahoo! board). While Yahoo! has been struggling for a while now, especially compared to Google, apparently Microsoft sees enough there to offer a 62% premium to the market price. Wall Street thinks this might be “diworsification” for Microsoft, as its share price is currently down around 6%. What does it all mean for these companies and the tech sector in general, though?
