Microsoft Corporation announced today that it has delivered a proposal to the Board of Directors of Yahoo! Inc. to acquire all of the issued and outstanding common stock of Yahoo! for $31 per share, for a combined value of approximately $44.6 billion.The plan will be completed in the second half of 2008. Currently,Yahoo!'s stock price has hit a new low, and Microsoft needs to compete with Google. According to insider information from the US government, this acquisition will pass through the anti-monopoly review.