Now that Yahoo’s board has decided to reject Microsoft’s $44 billion takeover offer, the action shifts from Yahoo’s board to its largest shareholders. There are reports that Microsoft has already lobbied several of Yahoo’s biggest shareholders in hopes that they will support a negotiated deal. Who are these big Yahoo shareholders? Bespoke Research has a list of the 20 largest stakeholders in Yahoo who also have significant holdings in Microsoft, and some commentary:
These investors own nearly a third (29%) of YHOO’s outstanding shares for a total value of $11.1 bln. However, at the same time, their holdings in MSFT are over 5 times that at ($57.9 bln). Given that the size of their holdings in the acquirer far outweigh the size of their holdings in the target, these holders may be on MSFT’s side.