Microsoft Corp., the world's biggest software maker, made an unsolicited $44.6 billion offer for Yahoo! Inc. to challenge Google Inc.'s dominance in Internet search services and advertising.
The $31-a-share bid of cash or Microsoft stock is 62 percent more than Yahoo's closing price yesterday. Before today, Yahoo had dropped 18 percent this year in Nasdaq Stock Market trading, and this week posted a 23 percent profit decline for the fourth quarter.
Aside from the fact that apparently Microsoft just can't resist a bargain, if I had to distill this deal down to one sweeping off-base generalization (which is what most of you come here for) it would be this: It looks like a classic case of trying to tie two pigeons together to create an eagle. Neither Microsoft nor Yahoo! has so far managed to seriously impede Google's advertising hegemony. So how much better of a job can we expect from them if they're working together as Microhoo! ?
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