A small Yahoo investor proposed a new deal on Thursday to sell the company to Microsoft for $22 a share, a 74% premium to the Web pioneer's current stock price. Under the proposal by investment fund Mithras Capital, Microsoft would unload Yahoo's Asian assets and non-search businesses, extract $3 billion worth of cost savings and receive $2.8 billion of tax benefits, meaning the software giant would pay $10.3 billion for Yahoo's search business.

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