Yahoo Inc confirmed on Friday that it had received an unsolicited bid from Microsoft Corp to acquire the company and that its board of directors would consider the USD 44.6 billion deal.
Yahoo said in a statement that its board would evaluate the 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."
Earlier, the technology giant Microsoft Corp said it had offered to acquire Internet media company Yahoo Inc for USD 44.6 billion in cash and stock.
Microsoft had offered to buy Yahoo for USD 31 per share, which it said represented a 62 per cent premium above the company's closing stock price on Nasdaq on Thursday.
"We have great respect for Yahoo, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market," Microsoft Chief Executive Steve Ballmer had said in a statement.
http://timesofindia.indiatimes.com/Business/Yahoo_to_carefully_consider_Microsoft_bid/articleshow/2749302.cms
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