"If Microsoft and Mr. Ballmer really want to purchase Yahoo, we again invite them to make a proposal immediately" a statement from Yahoo said, in response to continuous urges from its investors to resuscitate the negotiations between the two companies.

One such investor is Carl Icahn, who's been having regular conversations with Microsoft CEO Steve Ballmer. Icahn requested in a letter to the Yahoo! shareholders for Jerry Yang to step out from the CEO position, and wants the entire Yahoo! board replaced as requested by Microsoft. This was confirmed by Microsoft recently, saying the company is interested in purchasing Yahoo's search business as long as the entire board goes. "Steve made it abundantly clear that, due to his experiences with Yahoo during the past several months, he cannot negotiate any transaction with the current board," Mr. Icahn said.

An official statement from Yahoo! invited Microsoft to resubmit a bid immediately, but without mentioning any changes in the company's board of directories.

Most shareholders expressed their anger at Yahoo! for its inability to agree to a deal with Microsoft, but it is unknown yet if they will support Icahn in changing the board of directors.