Yahoo now faces more pressure, hedge funds say

Reuters- Officially, a potential $47.5 billion deal for Microsoft Corp to buy Yahoo Inc is over, at least for now.

But longer term, hedge fund managers and analysts said the Yahoo board now faces more pressure than ever to deliver shareholder value in the wake of the collapsed deal and could be forced to reopen merger talks with the software maker.

"This board is toast with a capital T," said Herb Denton, a veteran shareholder activist and head of Providence Capital. "They managed to leave $14.5 billion on the table. Name one shareholder that can be pleased with this outcome, other than the insiders."

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