Yang stated recently that the Yahoo board remains open to discuss a business deal with Microsoft. In addition, minority shareholder Carl Icahn already began to spread the word that Yahoo should sell its search business to Microsoft.

Yahoo CEO Jerry Yang is in a very unpleasant spot. Yang dismissed Microsoft’s offer earlier this year, claiming that the Windows maker was undervaluing the company. Truth be told, such comments earned him no friends in Redmond and it remains to be seen just what sort of deal will Yang obtain now.

Back then, Microsoft offered to pay $33 per Yahoo share. Now, Yahoo’s value dropped to a mere $14 per share and its hard to believe that Microsoft will prove as generous as it did in the past.

At present time Microsoft choses to remain quiet. While the Redmond company agreed that future deals are always a possibility, Yahoo’s top management is still waiting for an offer. And all bets are that a final offer will be made in some time from now.