SUNNYVALE, California: The moneymen continue to pressurize the board of Yahoo to seal a deal with Microsoft – a move that would undoubtedly advantage the dollar-holics at the expense of Yahoo's workforce and customers.
The latest disgruntled gambler to lean on the ailing search portal is Curtis Macnguyen, managing partner of hedge fund Ivory Investment Management which holds 21.4 million Yahoo shares – equivalent to 1.5% of the company.
In an open letter to all Yahoo board members Macnguyen warns that directors should not miss "another value maximisation opportunity".
And with the likes of Carl Icahn and his lieutenants now installed on Yahoo's board, Macnguyen is likely pushing on an open door.
He posits a deal whereby Microsoft would become the search provider for all Yahoo services if the proposal went ahead, but with the latter retaining 80% of revenue generated by searches on its sites.
"We envision a deal whereby Microsoft would acquire all of Yahoo's search assets and enter into a perpetual agreement for Microsoft to be the search provider for all Yahoo properties," spiels Macnguyen.
"We believe a search deal with Microsoft could deliver value to Yahoo shareholders of $24-$29 per share, or more than double yesterday's closing price of $12.19.
"[It] would offer Microsoft the unique opportunity to immediately gain critical mass to better level the playing field with Google, while simultaneously allowing Yahoo to both receive a sizeable upfront cash payment and increase its prospective cash flow."
And, of course, further enrich a certain hedge fund.
Data sourced from MediaGuardian.co.uk; additional content by WARC staff