Microsoft back in talks with Yahoo on new deal

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Microsoft has said that it is now back in talks with Yahoo that would see a brand new deal that would not involve a buyout.

In a statement released today, it has said that it was considering a new deal after the software giant walked away earlier this month from its US$47.5 billion bid to bid the web company.

"In light of developments since the withdrawal of the Microsoft proposal to acquire Yahoo, Microsoft announced that it is continuing to explore and pursue its alternatives to improve and expand its online services and advertising business," it said in the statement.

Since the buyout bid talks broke down, billionaire investor Carl Icahn has launched a proxy fight with the board to oust them and replaced with members including Mark Cuban.