Microsoft are reported to be re-considering their bid for Yahoo! due to changed market conditions and apparent signs of weakness in the core business offering of Yahoo!.
Yahoo! is awaiting a revised bid from Microsoft that better reflects the ‘true value’ of its business the CEO is reported as saying.
From previous mergers/takeover bid experience, I would assume that this is a scare tactic to expedite the process on Microsoft’s end. Showing no interest will certainly make Yahoo! re assess if they really want the Microsoft bid or not.