Kevin Rose may finally be ready to part with his baby. According to a report in TechCrunch, the Digg founder is preparing to receive bids from the likes of Microsoft and Google.

While Digg has long been the subject of acquisition rumors, the latest news suggests that Google, Microsoft and two other unnamed media companies have been heavily engaged in due diligence for the social bookmarking site.

Google is expected to bid an estimated $225 million, while Microsoft, which sells ads on Digg, is expected to offer slightly less.

At the height of last year's Digg acquisition rumors, the company was said to be looking for as much as $300 million. While that figure may no longer be realistic, there is the possibility that Google and Microsoft may find themselves fighting over Digg, which could raise the price somewhat. Neither Microsoft nor Google has been shy about their feud to dominate the web.