Yahoo Buyout Boosts Shares

Date: 5 Oct 2011

Rumours have been circulating about an impending takeover of the much troubled internet network Yahoo by Microsoft today - causing a 10% surge in share prices by the end of trading.

Share prices closed yesterday at $15.92 for Yahoo (a 10% increase) and $25.89 for Microsoft (a 2.2% increase).

This is the second rumoured attempt by Microsoft to buy the ailing internet entity, and follows their much publicized search and advertising merger in 2009.

Yahoo caused a stir in September by a very public firing of their CEO Carol Bartz. It is believed that a major difference in opinion as to the ongoing direction of Yahoo was at the root of the disagreement.

Neither Yahoo nor Microsoft have commented on the rumours so far.