(15 March 2008 7:30 pm)

MUMBAI: Senior executives from Microsoft Corp and Yahoo met on Monday to discuss Microsoft’s takeover bid for the company, according to media reports.

Reportedly the meeting was not a negotiation as no banker was present, but part of the company's strategy to keep all its options open. The session was intended to allow Microsoft to present its vision of a combined company.

Microsoft had originally proposed to pay nearly $45 billion for Yahoo, but the value of its offer has since declined to less than $42 billion as its shares have fallen 12 per cent.

Since Yahoo rejected Microsoft's offer last month, no other bids have been made public so far.

Yahoo recently extended the deadline for nominations to its board of directors in an effort seen by analysts and investors as forestalling a potential hostile effort by Microsoft.