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Microsoft offer to buy Yahoo
Quote:
Microsoft has offered to buy the search engine company Yahoo for $44.6bn (£22.4bn) in cash and shares. The offer, contained in a letter to Yahoo's board, is 62% above Yahoo's closing share price on Thursday.
Yahoo cut its revenue forecasts earlier this week and said it would have to spend an additional $300m this year trying to revive the company.
It has been struggling in recent years to compete with Google, which has also been a competitor to Microsoft.
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Formerly Cobbydaler
The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom - Isaac Asimov
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