Microsoft has made another offer to buy Yahoo's search business – and Yahoo has once again turned it down.
The latest bid is said to have required Yahoo to fire its top managers and sell off its stakes in a couple of Asian Internet companies.
But, although Yahoo has rejected what it describes as an "absurd and irresponsible" offer, industry watchers believe Microsoft may come back with something more concrete today.
The latest round of talks began on Thursday, with Microsoft and investor Carl Icahn betting on a proxy takeover at next month's Yahoo board meeting.
Yahoo has meanwhile indicated that it would be willing to sell the company for $33.00 per share – and amount it had previously rejected as too low.