The company just released a statement indicating its board members had met with Microsoft execs again this week. They were told, the statement says, "unequivocally that Microsoft is not interested in pursuing an acquisition of all of Yahoo, even at the price range it had previously suggested."
Yahoo's board of directors has also decided selling its search business by itself would not be a valuable move for the company or its stockholders.
You can read the full statement below.
Yahoo Statement - Upload a Document to Scribd
Read this document on Scribd: Yahoo Statement