Microsoft says has 92.6 pct of Fast, extends bid
A technician adjusts a spotlight at the exhibition stand of Microsoft in preparation for the CeBIT computer fair in the northern German town of Hanover March 12, 2007. Microsoft Corp said on Monday that it controls 92.6 percent of Norwegian search software firm Fast Search & Transfer, and extended its takeover offer to Thursday from a Friday deadline.
Credit: Reuters/Christian Charisius
OSLO |
OSLO (Reuters) - Microsoft Corp (MSFT.O) said on Monday that it controls 92.6 percent of Norwegian search software firm Fast Search & Transfer FASA.OL, and extended its takeover offer to Thursday from a Friday deadline.
The world's biggest software maker announced the $1.2 billion bid for Fast on January 17, offering 19.0 crowns per share, a 42 percent premium.
Microsoft said in a statement that shareholders with 81.6 percent of Fast's stock accepted the offer, and together with shares already owned, it has bought and received acceptances from shareholders with 92.6 percent of the stock.
The Norwegian acquisition was dwarfed by Microsoft's offer on Friday to buy Yahoo Inc (YHOO.O) in a cash and stock deal worth $44.6 billion.
(Reporting by John Acher)
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