Microsoft offers $44.6B for Yahoo

Breaking news: Transaction valued at approximately $44.6 billion in cash and stock; provides 62 percent premium to current trading price for Yahoo! shareholders; combined entity to create a more competitive company, providing superior value to shareholders …

Yahoo's response is here: Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company, today said that it has received an unsolicited proposal from Microsoft to acquire the Company. The Company said that its Board of Directors will evaluate this proposal carefully and promptly in the context of Yahoo!'s strategic plans and pursue the best course of action to maximize long-term value for shareholders.

Fred echoes the sentiments of many: We all knew this was coming. Yahoo! was cheap. Too cheap. And a mess. Rats were leaving the sinking ship en masse. It was not sustainable. Something had to happen.

Call now has happened, rough live blog notes from Search Engine Land are here.

Official release from Microsoft
Duncan Riley: Techcrunch
Danny Sullivan / Search Engine Land
Fred / A VC
Tons more links/stories are here.

A 62 percent premium, eh? What do they know that we don't?

Yahoo's stock is trading up close to 50% at the moment.

In case you're wondering, I'm kicking myself for missing this.


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