2/1/2008 5:41:00 PM
Microsoft launches £22.4bn Yahoo! takeover bid
Microsoft today launched a multi-billion pound bid to takeover MSN-rival Yahoo!
The computer giant has stumped up a £22.4bn offer in the wake of a struggling performance from Yahoo! in recent weeks.
Steve Ballmer, Microsoft's chief executive, called the move the 'next major milestone' for the software giant.
'We are very, very confident this is the right path for Microsoft and for Yahoo!,' he said.
Microsoft hopes to close the deal by the end of the year. Ballmer said that Microsoft has been in 'off and on' talks with Yahoo! for 18 months and said he called Yahoo CEO Jerry Yang Thursday night to tell him the bid was coming.