Senior executives from Microsoft Corp (MSFT.O: Quote, Profile, Research) and Yahoo Inc (YHOO.O: Quote, Profile, Research) met on Monday to discuss Microsoft’s takeover bid for the company, according to two people familiar with the matter.

The meeting was said to be the first since Microsoft made its unsolicited offer for Yahoo, worth nearly $42 billion, on January 31. Yahoo rejected the offer as inadequate last month.