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You almost have to wonder: with Yahoo executives all rushing for the door at the same time, could shareholders force the company back into Microsoft’s (NSDQ: MSFT) arms? Mithras Capital, a holder of 1.7 million Yahoo shares (pretty tiny in the scheme of things) has sent an open letter to Steve Ballmer, asking him to revisit the partial offer for Yahoo (NSDQ: YHOO). Only this time, the firm wants Microsoft to bypass Yahoo’s management and go directly to shareholders.
From the letter (via TechTraderDaily): “Yahoo! shareholders will shortly have the opportunity to vote for a new BOD. By bringing its case directly to Yahoo! shareholders, by credibly and convincingly spelling out in detail how its transaction is superior to the one Yahoo! signed with Google (NSDQ: GOOG), Yahoo! shareholders will in effect be able to choose this alternative by electing the slate of directors proposed by Carl Icahn. Icahn has been unequivocally clear that he understands a board