After yesterday’s meet between senior Microsoft and Yahoo executives was ended without any further progress, Microsoft stays committed in its refusal to increase its bid for Yahoo, according to a person with directly associated with Microsoft’s thinking.

Microsoft, however, is increasingly getting irritated with Yahoo’s refusal to get in into negotiations, the person stated. But Microsoft is not taking into account to lower its offer or moving back it all together, the person added. Earlier media study suggesting that Microsoft is re-appraising its offer sent to Yahoo shares down about 5 percent in after-hours of trading.

“Microsoft has tried again and again to engage in substantive negotiations, but the board has simply refused,” the person said. “Since the offer was made, the market has deteriorated and there are numerous indications that Yahoo’s business has declined.”

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