Microsoft (MSFT) Attempting a Hostile Takeover of Yahoo (YHOO)
February 1, 2008 | Posted by Jorge Microsoft this morning has placed an offer for Yahoo in a hostile takeover attempt. Details of the bid include paying YHOO shareholders either $31 per share or offering 0.9509 shares of MSFT per share of YHOO. Total cost of the attempted takeover is around $44 billion with no need for financing. Market futures spiked right after the announcement and are currently sitting near +162 in pre-market action. However, employment data will be released at 08:30 today which may potentially stifle the market’s mood, or it could shoot the markets even higher. As of right now, I currently have some DIA calls in place and am feeling pretty darn good, but let’s see if that holds up through the employment data in a little while.
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