Sunnyvale, Calif. - Despite speculation to the contrary, software giant Microsoft (NASD: MSFT) has no plans to raise its $44.6 billion offer for Yahoo (NASD: YHOO), The Wall Street Journal reported on Tuesday. Citing "people close to the company," the paper reported that Microsoft plans to stand pat on its offer. "There's no reason to bid against ourselves," one of its sources told the Journal.

The paper also reported that Microsoft isn't planning to nominate new directors to replace those currently on Yahoo's board.

Yahoo last month rejected the offer, saying that it "substantially" undervalued the company.

The two sides reportedly have had just one meeting since.

Related Links:
http://online.wsj.com/article/SB120701820580579519.html

http://snipurl.com/2372m (MarketWatch)