Recently Microsoft offered $44.6 billion for Yahoo. After that price of yahoo shares jumped for 50%. But yesterday Yahoo rejected Microsoft proposal. Actually Yahoo rejected price of Microsoft's offer. So now it seems it's not the end if story. To be continued...
by Steve Goldstein
LONDON (Dow Jones) -- Yahoo shares rallied 14% in overseas trading on Friday after a newspaper report that Microsoft may try to buy the Internet search firm after being beaten to other deals by Google Inc.
Shares of Yahoo (YHOO) jumped 14% to $32.22 in Frankfurt on volume of over 110,000, which by German standards is extremely high for a U.S. stock.
The gains came after The New York Post reported that Microsoft (MSFT) may want to buy the firm in what could be a $50 billion deal.
Citing anonymous sources, The Post said Microsoft is intensifying its pursuit of Yahoo and has requested formal talks. In recent weeks, Google bought DoubleClick for $3.1 billion and in 2005 renewed a key search-advertising pact with AOL.
The Post also reported that Yahoo two months ago spurned a bid from the Redmond, Wash.-based software giant.
According to the report, a deal between Microsoft and Yahoo would lift their combined share of the search advertising market to 27% against Google's (GOOG) 65%.
(END) Dow Jones Newswires
05-04-07 0556ET
Copyright (c) 2007 Dow Jones & Company, Inc.
