No

Our person is back. Bloomberg (02.09.08):

"Yahoo! Inc., the world's second most popular Internet search engine, plans to reject Microsoft Corp.'s $44.6 billion unsolicited takeover offer, a person familiar with the situation said today.

The board decided the price is too low, and is likely to reject it Monday, said the person, who declined to be identified because the discussions aren't public."

Yahoo Plans to Reject $44.6 Billion Microsoft Bid, Person Says

Microsoft was offering $31 a share; the Board thinks it can get $40.

Good luck there, eh. Meanwhile, back at the ranch. CNET (02.09.08):

"Planned job cuts at Yahoo are expected to come on Tuesday, with managers possibly finding out Saturday who is on the list, according to sources inside the company."

Sources: Yahoo job cuts expected on Tuesday