The Microsoft and Yahoo soap opera continued on Thursday, with both sides meeting to discuss Microsoft's takeover proposal. Many believed Yahoo CEO Jerry Yang's jig was up, but  The Wall Street Journal reported that nothing was resolved. This was the second sit-down between the companies, after a secret meeting held in March.

A recent media silence seemed to signal that the two sides were close to a deal, but Yahoo refuses to negotiate until Microsoft increases its bid. Meanwhile, the software giant is prepared to wait it out until shareholders force Yang and his board to reexamine the offer.

Microsoft's original offer was valued at $44.6 billion more than two months ago, but a recent drop in shares brought the bid down to around $42 billion.