First time for everything
Last modified on Wednesday, 06 February 2008 07:30
Microsoft will borrow money for the first time in its history to fund its $44.6 billion unsolicited offer for Yahoo.
According to News.com, Microsoft chief Financial Officer Chris Liddell said the software company may issue some debt to finance the cash portion of its 50-50 stock and cash offer for Yahoo, instead of drawing down its entire $21 billion cash pile.
Microsoft has been keen on avoiding getting into any debt in its long history. Its cash pile has been a bit of an embarrassment but it was always assumed that this would be used up in its taking on of Yahoo.