Microsoft has apparently made  a $44.6 billion bid for Yahoo - offering a whopping 62% over yesterday's closing share price.

Coming on the heels of Yahoo's poorer than expected fourth quarter results, and the resulting announcement that Yahoo intends to cut 1,000 jobs, the Microsoft bid may save a lot of jobs - and not incidentally, make Microsoft an even larger Internet behemoth.

Previous attempts by Microsoft to buy Yahoo have failed, however this very public bid may be intended to greatly appeal to Yahoo's share holders by promising them about 15% more than the last year's average price of Yahoo shares.

If successful, Microsoft would have a better chance of competing with Google for internet advertising revenues.