In its boldest-ever acquisition move, Microsoft sent a letter to Yahoo's board on Thursday night, offering $31 per share for the Internet media company, a 62 percent premium over its Nasdaq closing stock price that day. The price is still below Yahoo's year-high of $34.08 in late October. Yahoo said on Friday its board will evaluate the offer.
Yahoo shares shot up 45.5 percent to $27.91.
“This is a decision we have — and I have — thought long and hard about,” Ballmer said. “We are confident it’s the right path for Microsoft and Yahoo.”
Coutesy: msnbc.com, reuters.com
