Microsoft is still nipping at Yahoo's heels, trying to get the company to roll over and be bought out. In the other hand, it's been a PR nightmare for Yahoo, who is suffering setbacks from its own investors as well as struggling to find another way out.
Microsoft has other aces up its sleeve, however. Most currently, the company has changed the nature of their offer to Yahoo, from a stock/cash option to an all cash offer. This is a definite sweetening of the deal for Yahoo which may get some of the disapproving Yahoo board members to warm up to the software giant. Yahoo has already rejected Microsoft advances more than once however, so if it is simply a Microsoft buyout they want to avoid this may not do anything on their favor.