capital-research-and-management

Wall Street bigs warn Yang to take next best offer

Nicholas Carlson · 02/12/08 09:00AM

Yahoo CEO Jerry Yang's earned new respect all over the Valley for standing up to Microsoft and Steve Ballmer over the weekend. On Wall Street, major investors think enough is enough. Mutual fund house T. Rowe Price, which owns 18 million Yahoo shares, yesterday said it would be "very vocal" if Yahoo rejected any increased offer from Microsoft. Fund manager Larry Puglia called Yahoo "floundering." Capital Research and Management, which owns 11.6 percent of Yahoo, wants Yang and the board to welcome their new overlords, too.