Latest news say that Microsoft just offered $44.6 billion for Yahoo!, at $31 per share, 62% more then the stock price. Very interesting to see if this goes through (a price that is hard to refuse) and what kind of giant will emerge as rival to Google from this.

Microsoft Proposes Acquisition of Yahoo! for $31 per Share

Transaction valued at approximately $44.6 billion in cash and stock;

Provides 62 percent premium to current trading price for Yahoo! shareholders;

Combined entity to create a more competitive company while providing superior value to shareholders and better choice and innovation for customers and partners.

Much more on this at Search Engine Land

Update: the offer is half cash, half stock and you can find the press release here.

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