Microsoft said on Friday it has offered to buy Yahoo, the popular Web portal, for $44.6 billion in cash and stock, seeking to join forces against Google in what would be the biggest Internet deal since the Time Warner-AOL merger.
"We have great respect for Yahoo, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market," Microsoft Chief Executive Steve Ballmer said in a statement.
Microsoft said it had identified four areas that would generate at least $1 billion in annual synergies for the combined entity.
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"We have great respect for Yahoo, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market," Microsoft Chief Executive Steve Ballmer said in a statement.
Microsoft said it had identified four areas that would generate at least $1 billion in annual synergies for the combined entity.
Read it here...