About to yield and draw back (6)
I believe the answer is:
recede
'draw back' is the definition.
(receding is a kind of drawing back)
'about to yield' is the wordplay.
'about' becomes 're' (regarding).
'to yield' becomes 'cede' ('cede' can be a synonym of 'yield'**).
're'+'cede'='RECEDE'
'and' is the link.
(Other definitions for recede that I've seen before include "Withdraw" , "Move backward" , "Become more distant" , "Decline" , "Go back, ebb" .)