Microsoft has officially entered a bid to buy Yahoo for $44.6 billion, just days after Yahoo cut staff by 1,000 employees. And Microsoft is clearly hoping to use Yahoo to gang up on search giant Google. On a conference call Friday, Microsoft CEO Steve Ballmer called a combination of Microsoft and Yahoo a more "credible" alternative to Google in the online advertising and services market. "By combining the assets of Microsoft and Yahoo we can offer a more competitive choice for consumers, advertisers and publishers," he said.
Yahoo's stock is up nearly 50% (28.71 per share) in morning trading.
Microsoft Offers $44.6 Billion for Yahoo
Microsoft's Bid For Yahoo
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