Microsoft Spending $486M On European Shopping Site

Microsoft is dropping almost a half a billion dollars on a company that has several consumer shopping sites, including one of the leading price comparison and online shopping sites in Europe.

The deal calls for Microsoft to commence a cash tender offer to purchase all of the outstanding shares of Greenfield for $17.50 per share, or roughly $486 million. Wilton, Conn.-based Greenfield, which acquired Ciao in 2005, also owns an Internet survey business, which Microsoft plans to sell off. Microsoft said it has already secured an unnamed buyer for that unit.

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