Perhaps this is what Steve Ballmer was referring to when he recently said “Sometimes, you’re lucky”
But investors are daunted by the challenge of revving up returns for Yahoo's core U.S. business of selling online display advertising, which has lost market share to nimbler rivals. Since Yahoo rebuffed a $44.6 billion takeover offer from Microsoft in 2008, its shares have lost nearly 44% in value.
Microsoft has been less willing to make a solo run for Yahoo ever since the failed bid, people familiar with the matter said, but it wants to maintain influence over Yahoo's future. Its participation in the discussions is mainly driven by its interest in protecting and enhancing an Internet search-advertising partnership it struck up with Yahoo after its bid, they added.
Under the proposal being discussed, the buyers would spin off Yahoo's Asian assets after a takeover, people familiar with the matter said.