After an impressive First Quarter Financial Results for 2008, Yahoo's CEO (Chief Executive Officer) Jerry Yang had announced that Yahoo! was open for any and all deals that would come its way, including Microsoft's bid for Yahoo!

According to Associated Press (AP) Microsoft has risen its bid for Yahoo! To above $31 per share, hoping to achieve a friendly merger of the two Internet behemoths. In a recent report by NYT Microsoft has raised its bid by 'several dollars' and speculations are circulating that Microsoft might be able to afford a bid of $35 per share. This development has led to a high-level discussion between ht e two companies for a possible merger. The details of these meetings haven't been disclosed yet and according to sources, a deal agreement hasn't been reached yet.

Yahoo's share values rose with this news and closed at $28.67 per share, an increase of $1.86 that amounts to 7%. Whereas Microsoft is slightly behind Yahoo!. If this deal goes through it would further revolutionize the Internet and also will be highly beneficial for people associated with these two companies. However, in the event that the deal fails to materialize, Microsoft might shoot for a hostile takeover of Yahoo! By replacing a maximum of 10 board directors who would be more inclined towards the deal.