Microsoft Corporation is offering 6.6 billion NOK (or approximately $1.2 billion USD) for the acquisition of Fast Search & Transfer, a leading provider of enterprise search solutions. FAST’s board of directors has unanimously recommended that its shareholders accept the cash tender offer, which will be subject to customary terms and conditions, for 19.00 NOK per share. In addition, shareholders representing in aggregate 37% of the outstanding shares have irrevocably undertaken to accept the offer. The transaction is expected to be completed in the second quarter of calendar year 2008.
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