There were earlier attempts by software giant Microsoft to buy Yahoo in 2008 for a whopping 45 billion dollars and it is believed that they will come up with a fresh bid. The Telegraph quoted a source as saying, "Some of the same rationale, in terms of expertise in display advertising and search - still stands, so if Microsoft can get it for half the price, it will want to do so."
The paper also states that former chief executive of AOL, Jon Miller who is not heading the digital section of News Corporation is perceived to be the front runner in the deal. He is understood to have had talks with private equity firms to raise funds to acquire Yahoo.
According to popular technology blog, Techcrunch, Miller is believed to have had unofficial talks with the Yahoo board in June.