Microsoft has just announced a formal offer for Yahoo. Microsoft has proposed to Yahoo’s board of directors an offer of $31 per share, a 62% premium over yesterday’s close. The total value of the offer is $44.6 Billion. Microsoft CEO Steve Ballmer 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."

Read the offer details…