LONDON (Reuters) - Microsoft Inc is in talks with Yahoo Inc to buy the U.S. internet company's online search business for $20 billion, according to a report in Britain's Sunday Times.
The proposal under discussion involves a complex transaction that would see the U.S. software giant support a new management team to take control of Yahoo, but it has no intention of refreshing its bid, said the newspaper.
Microsoft withdrew its $47.5 billion buyout offer for Yahoo in May after Yahoo chief executive Jerry Yang and his board rejected the bid as too low.
Bid speculation was sparked again earlier this month when Yang announced he was stepping down. Microsoft CEO Steve Ballmer ruled a bid out at the time, but said he was "open" to talks on a deal for Yahoo's search business.
http://www.reuters.com/article/topNews/idUSTRE4AT1AO20081130This will shoot up Yahoo stock tommorrow.
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