Yahoo issued a press release this morning to confirm the weekend's news. Yang and the board think Microsoft's offer is too low. So is Microsoft willing to borrow more money to raise its offer and make the Yahoo deal happen? "Without a question," Microsoft VP Yusuf Mehdi told AdAge in an interview published today.

We are very committed to this combination. We have a whole set of plans and preparations ready to go to make it work. And we'd like to do that in a cooperative way with Yahoo. No question — our commitment is clear with this one.

Contact information for this author is not available.