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Well, like people say “never say never”, Microsoft has sent another proposal to Yahoo for possible acquisition.

This time it would not involve the acquisition of all of Yahoo’s assets although Microsoft said it “reserves the right”‘ to reconsider its bid to acquire all of Yahoo.
According to the statement released by the world’s largest software maker:

Microsoft is not proposing to make a new bid to acquire all of Yahoo at this time, but reserves the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo or discussions with shareholders of Yahoo or Microsoft or with other third parties.

A few days ago billionaire investor Carl Icahn launched a proxy fight to unseat Yahoo’s current board at the Internet search pioneer’s upcoming July 3 annual shareholders meeting, so this doesn’t come as a surprise.

Icahn, a large Yahoo stakeholder, aimed to pressure the search company to restart talks with Microsoft, after the software giant withdrew its unsolicited buyout bid of $33 a share on May 3.

Troy Mastin, an analyst at William Blair & Co. in Chicago said:

The best strategy for Yahoo is to embrace Microsoft.

According to the details gathered, Microsoft has proposed an arrangement in which it would sell advertisements that would be displayed next to Yahoo search results, in an effort to fight back competition from Google. The timing of Microsoft’s proposal comes as Yahoo said in April that it would run some Google ads next to its search results to boost revenue.

Despite these recent developments in resuming talks between the companies, Icahn and Microsoft have had no contact, according to people familiar with the talks.

Kevin Johnson, Windows and Windows Live chief, said Sunday in a letter to employees:

Regardless of the outcome of any new discussions, it is important that we continue to move forward to strengthen our online services business. The fact is that we are not where we want to be in this business yet and we’ve been in this position longer than we’d all like. To that end, we will be accelerating elements of our core strategy, and breaking ground in new areas.