On Saturday Microsoft sent a letter to Yahoo! setting a three week deadline for an agreement between the two companies to be reached. Today, Yahoo! responded in an not-unexpected manner, with the same response it had given before: the offer is insufficient, as far as the Yahoo! Board of Directors is concerned.

Yesterday the news hit that Microsoft was reconsidering its unsolicited offer for Yahoo! because the company felt that Yahoo! may have lost value since the offer was first made, in early February. Today thins have changed as Microsoft turned on the heat on Yahoo! giving the company basically an ultimatum.

Microsoft’s proposal, which represents a 62 percent premium above Yahoo!’s closing stock price on January 31, 2008, would create a more competitive company while providing superior value to shareholders and better choice and innovation for customers and partners.

Yahoo! highlights recent milestones in product and mobile platform innovation,
partnerships, and mobile advertising.

Yahoo! oneSearch 2.0(TM) to Include Search Assist, Voice-Enabled Search, Idle Screen Access and Open Search Results

Yahoo! calls for people to pick up a passion as lack of motivation prevents 1 in 5 from being happy.

Yahoo!, MySpace and Google will form non-profit OpenSocial Foundation, which aims to assure neutrality and longevity of specification for building social applications across the web.

Yahoo! Inc., the Internet company that turned down a $44.6 billion bid from Microsoft Corp., reaffirmed its first-quarter and 2008 forecasts and laid out its case for rejecting the software maker.

Microsoft and Yahoo! are moving from dead point thanks to Microsoft meeting with Yahoo execs to share their views on how the combined companies would look.

News Corp. chairman and CEO Rupert Murdoch said he will not battle Microsoft Corp. to act as a white knight for Yahoo Inc.

According to AP report published in Yahoo! News the later is exploring alliance with News Corp.

Yahoo considers resuming merger talks with America Online (AOL) after the Internet icon rejected Microsoft’s staggering 46-billion-dollar takeover bid. The company reportedly considers cooperation opportunities with Google and Disney.