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Microsoft says expects Yahoo to accept bid quickly

February 4, 2008 01:43 by jdelpay

SEATTLE (Reuters) - Microsoft Corp said on Monday that its $44.6 billion unsolicited offer for Yahoo Inc was generous and it expects Yahoo's board and shareholders to agree to the buyout quickly.

"We trust the Yahoo board and the Yahoo shareholders will join with us quickly in deciding to move down an integrated path," Microsoft Chief Executive Steve Ballmer said in an annual strategy meeting with analysts.

Microsoft's comments follow a weekend of maneuvering by Yahoo, which, according to sources familiar with Yahoo's strategy, is considering a business alliance with Google Inc to rebuff Microsoft's proposal. It has also received preliminary contacts from media, technology, telecommunications and financial companies, another source close to Yahoo said.

At the same meeting, Microsoft Chief Financial Officer Chris Liddell also said the company may borrow money for the first time in its history to fund a portion of the 50-50 cash and stock offer for Yahoo.

"If you look at the cash component ... we could fund most of that through our cash holdings, but it's likely we're actually going to borrow for the first time," said Liddell. "It's going to be a mixture of the cash we have on hand plus debt."

Liddell said he expects Microsoft's revenue to grow at a double-digit percentage in the coming fiscal year starting in July despite a potential U.S. economic slowdown.

Microsoft also announced that its first major update to Windows Vista was released to manufacturing. Usually, large organizations wait for the first major update before deploying a new operating system.

Shares of Microsoft rose 5 cents to $30.50 in early Nasdaq trading, while Yahoo shares rose 44 cents to $28.82.

(Reporting by Daisuke Wakabayashi and Michele Gershberg in New York, editing by Dave Zimmerman)

Copyright 2008 Reuters


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Comments

February 4. 2008 04:22

Lionfish

I'm lovin it. I have Yahoo, and it's not what it used to be. This is a great move, not only for the consumer, but for the company as well. MERGE, MERGE, MERGE.....I am a microsoft lover from the beginning, as well as Hewlett (Presario) Packard. Some of the best software and help from the Techs around.

Lionfish

February 4. 2008 04:24

thenukkaman

Just wait until Microsoft's ad engine gets fully embedded into Yahoo and takes advantage of the traffic it has never had. They will pay for this acquisition within 4 years of today from ad revenue alone.

thenukkaman

February 4. 2008 04:26

eidylon

I don't know... it could be good, but ... i would be seriously worried about my Yahoo services. I pay for premium email, and have a domain registered through them.

The mail though would be my main concern. Yahoo's spam filters are VASTLY superior to hotmail's, and i would be afraid of Yahoo mail being brought down to hotmail's level. Right now they aren't even really in the same world, let alone the same league.

eidylon

February 4. 2008 04:26

D1g1tal_One

Without microsoft we probably wouldnt be posting comments on the internet. Remember that.

D1g1tal_One

February 4. 2008 06:43

Patrice

Great deal for yahoo and microsoft, better competition for Google who keep 75% of the Search engine marketing business. Usually good competition should bring the price down for the consumer, so why not????

what does the seeker of knowledge think about it???

Patrice

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