NEW YORK – Microsoft Corp. is resuming its pursuit of search engine operator Yahoo Inc. (Nasdaq:YHOO – news) that could help it better compete with Web search leader Google Inc., published reports said Friday.
Yahoo shares surged more than 18 percent in morning trading.
The New York Post reported Friday that Microsoft has asked Yahoo to enter formal negotiations for an acquisition that could be worth $50 billion. Yahoo’s market capitalization was about $38 billion on Thursday.
Read more: Yahoo! News
