Is Microsoft Eyeing Yahoo?
(CBS/AP) Microsoft Corp. is resuming its pursuit of search engine operator Yahoo Inc. that could help it better compete with Web search leader Google Inc., published reports said Friday.
Yahoo shares surged more than 17 percent in premarket trading.
The New York Post reported Friday that Microsoft has asked Yahoo to enter formal negotiations for an acquisition that could be worth $50 billion. Yahoo’s market capitalization was about $38 billion on Thursday.
The Wall Street Journal said executives of the two companies are looking at a merger or some other kind of matchup and said the talks appear to be early-stage discussions. It said the companies explored the idea of combining last year but the talks led nowhere.
“They’re getting tired of being left at the altar,” one source who has recently had talks with Microsoft told the Post. “They now seem more willing to extend themselves via a transaction to get into the game.”
Source: www.cbsnews.com
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