WSJ Highlights Microsoft/Yahoo Meeting (MSFT, YHOO)

The Wall Street Journal today gave an update on the Microsoft (Nasdaq: MSFT)/Yahoo! (Nasdaq: YHOO) deal after the Company's executives met earlier this week at Yahoo's Sunnyvale, California headquarters.

The WSJ cites "people familiar with the matter", saying the meeting was not a negotiation, but rather was a way for Microsoft to pitch a vision of a combined company to Yahoo's management. Although no bankers attended the event, the meeting was significant as it was the first communication between either companies since Yahoo's rejected tender offer last month.

The WSJ article notes that "It wasn't immediately clear if Chief Executive Officer Jerry Yang and Microsoft CEO Steve Ballmer participated."

Sources say that Microsoft has refused to consider raising its tender offer until Yahoo allows the Company to take a deeper look into Yahoo's books.

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