Microsoft bids $45bn for Yahoo
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Microsoft launches hostile takeover bid for Yahoo
Software giant Microsoft has launched a $44.6 billion hostile takeover bid for online portal Yahoo, in what would be one of the biggest technology takeover deals for years.
Microsoft chairman Steve Ballmer confirmed that he had been in discussion with Yahoo executives for some time. But his decision to go public with an offer now suggests those discussions had stalled.
Nevertheless, most market watchers anticipate that Yahoo shareholders will accept the deal, as the online giant has seen its share price stagnate.
The move is yet another indication of how seriously Microsoft takes the threat of online search company Google. Yahoo currently has around 14% of the global online search market; Microsoft has just over 3%.
In a statement Yahoo said its board would consider its response. Even if the offer is accepted, competition regulators on both sides of the Atlantic could intervene.
