![]() Indian Express |
![]() Express India |
![]() Screen |
![]() Loksatta |
![]() Express Cricket |
![]() Kashmir Live |
![]() Biz Publications |





Feb 1 : Microsoft Corp, the world's biggest software maker, made an unsolicited $44.6-billion offer for Yahoo! Inc to challenge Google Inc's dominance in Internet search services and advertising.
The $31-a-share bid of cash or Microsoft stock is 62% more than Yahoo's closing price yesterday. Yahoo had dropped 18% this year in Nasdaq trading, and posted a 23% profit decline on January 29.
Microsoft CEO Steve Ballmer is making the biggest-ever technology takeover after failing to compete with Google in a market that may almost double to $80 billion by 2010. Google's growth has outstripped the pace set by Redmond, Washington-based Microsoft in every quarter since Google's 2004 IPO as its search engine won more users.
“Microsoft is under massive pressure to expand its Internet business to fend off competition from rivals such as Google and this deal shows how desperate they are,” said Thomas Radinger, a fund manager at Pioneer Investments in Munich, which oversees about $95 billion, including Microsoft shares. “It's a huge gamble as the price is very steep and it will take years to successfully integrate such a massive acquisition.''
Yahoo rose 61% to $30.80 in early trading after closing at $19.18 on the Nasdaq on Thursday. Microsoft fell 75 cents to $31.85 after closing at $32.60 in Nasdaq trading. Google fell 8.2% to $518 from $564.30.
Yahoo spokeswoman Diana Wong declined to comment.
—Bloomberg
Discuss this story on expressindia forums
|
|
![]() |
![]() |
![]() |
© 2008: Indian Express Newspapers (Mumbai) Ltd. All rights reserved throughout the world