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UPDATE: Microsoft and Yahoo in Talks

Written on
May 2nd 2008
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by Kathleen  |
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hearing1.jpgADOTAS – It’s official: Microsoft and Yahoo are in active merger talks, The New York Times’ DealBook reports.

Microsoft has reportedly increased its bid “by several dollars” per share — a move that has been expected by many industry watchers.

Yahoo shareholders told DealBook that top executives from both companies were calling them to find out what kind of stock price they’d settle for in order to rubber-stamp the deal. Many have said in the past that they’d hold out for $35 or $37; Microsoft indicated that it would raise its bid from about $29.30 a share to as much as $33.

Yahoo’s stock rallied on the heels of the news: it was up about 6.92% to $28.67. Microsoft’s stock didn’t fair quite as well, plummeting about .54% to $29.24.



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