Microsoft Offered $1B For Yahoo Search Business - Source
Last Update: 6/13/2008 3:57:16 PM
SAN FRANCISCO (Dow Jones)–Microsoft Corp. (MSFT) offered $1 billion to buy Yahoo
Inc.’s (YHOO) search business, a person familiar with Microsoft said Friday.
In the alternative transaction which Microsoft suggested with Yahoo, Microsoft
would also have acquired a 16% stake in Yahoo’s equity, valuing the stock at $35
per share, this person said.
Both companies confirmed Thursday that a fresh set of talks had ended last
weekend after the companies again failed to agree on terms. Yahoo said it
wouldn’t sell its search business as it couldn’t create an advertising platform
without it. Microsoft said it wasn’t interested in bidding for all of Yahoo, but
remained open to an “alternative” transaction.
-By Jessica Hodgson, Dow Jones Newswires; 415-439-6455;
jessica.hodgson@dowjones.com
(END) Dow Jones Newswires
June 13, 2008 15:57 ET (19:57 GMT)
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