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NEW YORK Yahoo! said Monday that it plans to buy Overture, a provider of pay-for-performance search to Web sites, in a stock and cash transaction valued at $1.63 billion.
The deal, subject to regulatory and shareholder approval, calls for Sunnyvale, Calif.-based Yahoo! to offer 0.61 shares of its common stock and $4.75 in cash for each outstanding common share of Overture.
The acquisition advances Yahoo!’s objective of becoming a leading search provider, combining assets capable of generating, distributing and monetizing search results.
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