The deadline of April 26th set by Microsoft for Yahoo! to come to an agreement over a possible takeover has passed.Now, Microsoft must decide whether to walk away from the deal it proposed or whether to pursue a hostile takeover of Yahoo!.
According to the Wall Street Journal (WSJ), the decision currently facing Steve Ballmer, chief executive officer of Microsoft, concerning Yahoo! is "one of the biggest" of his career.
Sources close to the matter told the publication that there had been no direct contact between the two firms over the weekend.
They added that Microsoft was unlikely to take action today (Monday April 28th).
The WSJ goes on to suggest that, after publically announcing that Microsoft will take its case directly to Yahoo!'s shareholders in a letter sent by Mr Ballmer on April 5th, it is unlikely that Microsoft will end its pursuit.
It states: "Abandoning the bid following his public sabre rattling might damage his own credibility as well as Microsoft's."
However, during a conference call with reporters last week, Chris Liddell, Microsoft's chief financial officer, stated that the firm is prepared to withdraw its offer to buy Yahoo! and believes it is capable of achieving success in the online advertising market whether it acquires the search engine provider or not.
Spokespeople for both Microsoft and Yahoo! - which maintains that Microsoft's offer is an undervaluation - declined to comment on the issue.
