Microsoft Yahoo Round Two?

According to the New York Times, Microsoft has proposed a complex new collaborative deal with Yahoo that would not involve a full takeover of Yahoo by Microsoft. Microsoft had made an offer of $47.5 billion to outright take over Yahoo that was withdrawn a couple of weeks ago.

From the New York Times piece and in a statement released by Microsoft today - the company said it was “considering and has raised with Yahoo an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo.” Microsoft provided no additional details.

Here's more from the New York Times:

“Microsoft is not proposing to make a new bid to acquire all of Yahoo at this time, but reserves the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo or discussions with shareholders of Yahoo or Microsoft or with other third parties,” the company said.

It looks like Microsoft is scrambling, trying to head off a partnership deal currently in the works between Yahoo and Google, expected to be announced as early as this week.

Read the full New York Times piece here.