Microsoft announced early today that they are trying to buy Yahoo. They’re offer was $31 a share to be payable in $31 cash or .9509 of a Microsoft share, which is about a 62 percent rise over Yahoo’s closing price on January 31. Steve Ballmer, CEO of Microsoft, said, “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.”

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