Update: The Wall Street Journal says the Deal is not happening!

What could probably be the largest acquisition in IT history, Microsoft is trying to get Yahoo to come back to the table for takeover talk which Yahoo has previously turned away. The lucrative 50 billion USD offer could change things this time though.

Microsoft is really pushing hard as to play catch-up in fields such as search and to counter the ever growing presence of Google on the Internet.

Head over to New York Post for the exclusive…