One week after Microsoft publicly bid to acquire Yahoo, the takeover target's directors held a conference call and still haven't decided what to do, according to The Wall Street Journal.

The Yahoo directors discussed outsourcing their search advertising to Google, as well as how to negotiate a higher offer from Microsoft, unidentified sources told the newspaper.

The bid, valued at $44.6 billion when Microsoft made the offer a week ago, has dropped to about $41.8 billion as Microsoft's share price has fallen.

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Microsoft, Yahoo!, Bid, Corporate News