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Yahoo's stock tops $30 for 1st time in 5½ years

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By The Associated Press
Friday, Sept. 13, 2013, 12:01 a.m.
 

Yahoo is getting closer to propelling its stock beyond the price that Microsoft offered to buy the Internet company in 2008, a feat that seemed unattainable until Yahoo hired Marissa Mayer as its CEO last year.

The stock crossed a symbolically important milestone on Thursday when it topped $30 for the first time since February 2008, when Yahoo co-founder and then-CEO Jerry Yang was drawing up ways to fend off an unsolicited takeover bid from Microsoft Corp. that was later withdrawn.

After Microsoft scrapped its offer for $31 per share, Yahoo's stock sank into a prolonged slide, falling as low as $8.94 before Mayer was hired in July 2012.

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