The $31 a share offer for Yahoo! that Microsoft made on Jan. 31 was 62% higher than Yahoo!'s closing price the day before the offer was disclosed. So with the Fed Chairman saying the U.S. may be in a recession after losses tied to the collapse of the subprime mortgage market, it would hardly be surprising if the world's largest software company didn't revisit the offer terms and begin to wonder whether $31 a share is too much. And now Bloomberg.com is reporting that this is exactly what's happening.