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 The big deal news Friday morning: Microsoft Corp. said it has offered to buy Yahoo! Inc. for $44.6 billion in cash and stock to form a union of operating system and search engine giants that could better compete with Google Inc.The Deal's Peter Moreira writes the offer represents a 62% premium to the target's closing stock price on the Nasdaq on Thursday, but it falls short of Yahoo!'s 52-week high of $34.08 reached in late October.
Yahoo! shares have been in a free fall, losing about 32% of their value in the past year as the search engine pioneer has continued to lose market share to Google. From a broader perspective, the news was a shot in the arm for the flagging stock market, which has been battered this year by the subprime mortgage market and a slowing economy. Dow Jones Industrial Average futures surged about 100 points to a gain of 146 within minutes of the announcement. Stay tuned to TheDeal.com for updates throughout the day. - The editors Patience lost with Yahoo!, Jan-30-2008 Yahoo! stalls, big deal lure grows, Jan-22-2008
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