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Friday, February 01, 2008

Microsoft Proposes Acquisition of Yahoo!

Microsoft announced that it has made a proposal to the Yahoo! Board of Directors 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.

"The combination of these two great teams would enable us to jointly deliver a broad range of new experiences to our customers that neither of us would have achieved on our own." says Ray Ozzie, chief software architect at Microsoft

The online advertising market is growing at a very fast pace, from over $40 billion in 2007 to nearly $80 billion by 2010. Microsoft has developed a plan and process that will include the employees of both companies to focus on the integration of the combined business.

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