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Microsoft Corp. today announced that it has made a proposal to the Yahoo! Inc. Board of Directors to acquire all the outstanding shares of Yahoo! The offer is unsolicited takeover offer of $44.6 billion (cash! wow!), seeking to join forces against Google in what would be the biggest Internet deal since the Time Warner-AOL merger in 2001.

“We have great respect for Yahoo!, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market,” said Steve Ballmer, chief executive officer of Microsoft. “We believe our combination will deliver superior value to our respective shareholders and better choice and innovation to our customers and industry partners.”

YAHOOSOFT or MICROHOO Anyone?

Link: Microsoft Press Release