Struggling Yahoo has gotten a multi-billion dollar offer from Microsoft… but will they sell?
Microsoft today bid $31 dollars per share for Yahoo, as part of a $44.6 billion cash and stock deal to buy the search engine operator, which announced massive layoffs on Wednesday.
CBS.com reports Yahoo and Microsoft have fallen behind Google in capturing online advertising revenue and teaming up could give them a competitive advantage as well as give a lift to the entire technology market. Anti-trust laws prevent Google, which now has 75 percent worldwide market share in the online search business, from making a bid for Yahoo.
It’s estimated the online advertising industry – which currently generates more than $40 billion – will reach $80 billion in the next three years.