Microsoft has said that it is open to the possibility of
restarting
acquisition discussions with Yahoo if the troubled search firm
is prepared to elect a new board at its 1 August stockholder
meeting.
Amid a takeover bid that has produced
wide-ranging speculation from media and industry alike,
Microsoft called an end to talks in early May which could have seen
a deal tabled worth $47.5bn.
Microsoft has reportedly issued a statement declaring its
renewed interest after billionaire financier
Carl Icahn,
who holds a 4% stake in Yahoo, made it public that he had "spoken
frequently" to Microsoft CEO Steve Ballmer in an attempt to allay
Ballmer's fears over board mismanagement.
For its own part, while Yahoo's response has shown willingness
to reopen talks, the company has issued statements specifying that
it "feels strongly" that any deal negotiated should be in the best
interests of Yahoo stockholders.
The deal still awaits regulatory approval - a process that could
take at least nine months.