NEW YORK (AFP) - Software giant Microsoft urged Yahoo to accept its "generous" 44.6 billion dollar takeover offer, adding it hoped to get a quick response from the major Internet player.
"We think its a generous one," Microsoft chief executive Steve Ballmer, speaking at the US firms annual conference with analysts, said of the bid announced Friday.
The offer represents a large 62 percent premium on Yahoos closing share price Thursday.
"We trust the Yahoo board and the Yahoo shareholders will join with us quickly in deciding to move down an integrated path," Ballmer said.
Microsoft, the worlds leading software maker, announced the bid for the Internet portal in a strategy aimed at competing with Google, the top Internet company.
"We wanted this offer to be attractive to Yahoo shareholders," said Chris Liddell, Microsofts chief financial officer.
"We want to close this acquisition by the end of this year," he added.
Yahoo has remained cautious in response, saying it would study the unsolicited offer closely.
The move comes as Yahoo is losing ground rapidly in the Internet space to Google, the search leader which has cashed in on the market for online advertising.
Google protested Microsofts bid on Sunday as a threat to the Internet itself.
"Microsofts hostile bid for Yahoo raises troubling questions," read a statement by David Drummond, Googles senior vice president for corporate development and chief legal officer.
"This is about more than simply a financial transaction, one company taking over another. Its about preserving the underlying principles of the Internet: openness and innovation."
According to a report Monday in The Wall Street Journal, Google has offered to help Yahoo in any effort to thwart Microsfots bid.
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