Yahoo! rejected Microsoft's $47.5bn (£32bn) bid earlier this year and later rebuffed an offer for the search engine alone.

However, speculation over a new takeover attempt has mounted, following the resignation of Yahoo! co-founder Jerry Yang earlier this week, which renewed hopes over a possible tie-up.

Yahoo! chairman Roy Bostock is currently leading the search for a replacement for Yang and Yahoo! has hired executive search firm Heidrick & Struggles to look for both internal and external candidates. The process is expected to take between four and 12 weeks.

Yang's resignation has also increased speculation over the possible re-starting of its search advertising partnership with Google, which was axed after regulatory concerns continued to delay its start.

Talks with AOL-Time Warner over a possible merger with Yahoo! appear to be delayed. It is currently in the due-diligence process.

Marketing Week 20.11.08