With Microsoft reviving talks with Yahoo to create a potential Google-buster, the top brass at Google are preparing a response, although they don't seem to be too worried.

Company co-founders Larry Page, Sergey Brin and CEO Eric Schmidt held an emergency meeting on Monday night to "decide what our response is," Schmidt said at the Google Zeitgeist conference. Although the meeting was held, Schmidt and the founders said they feel Google is "recession-resilient," reported the Times Online.

Google recently tested selling ads that appeared alongside Yahoo search results, and the two companies were working toward making a permanent arrangement. Google has still not ruled out this possibility, Brin said.

While Microsoft hasn't officially said what the new Yahoo negotiations would yield, sources indicate it would be a situation similar to the Google deal, with Microsoft ads appearing in Yahoo search.

The Google honchos also indicated maligned Yahoo chief Jerry Yang could find a home at Google if he is forced out by investors. Yang faced criticism for not accepting Microsoft's initial $47 billion takeover bid, and investor Carl Icahn is now fighting a proxy battle to oust Yang and his board of directors and install a new board that would accept a Microsoft takeover.