Yahoo shares surge on Microsoft talk news
Yahoo Inc. stock surged more than 8 percent Friday after media reports that talks aimed at an amicable deal with Microsoft Corp. are ramping up.
The Wall Street Journal reported that negotiations are taking place between Sunnyvale-based Yahoo (NASDAQ:YHOO) and Redmond, Wash.-based Microsoft (NASDAQ:MSFT) and that Microsoft may be willing to offer as much as $33 a share.
On Thursday, Microsoft CEO Steve Ballmer told employees that the company might be willing to negotiate a higher price than its earlier offer of $31 a share credit report no fax payday loans.
Yahoo rejected the earlier $44.6 billion offer, saying it undervalues the company.
Yahoo stock went as high as $29.73 Friday before closing the day at $28.67.