Google And Microsoft Go Head To Head For AOL Deal: Report

Microsoft and Google are competing against one another to partner with AOL, the Reuters News agency is reporting today. The agency reported that both Microsoft and Google have submitted proposals in the last several weeks.

At least one more round of discussions will be held with Google and Microsoft, according to the report.

Reuters also reported that billionaire investor Carl Icahn has said that he would hold Time Warner board members "personally responsible" if Time Warner strikes any deal that undervalues AOL. Icahn and a consortium of investment companies own almost 3 percent of Time Warner's outstanding shares, Reuters says. They have begun a proxy battle in an attempt to replace a majority of Time Warner's board.