Yahoo Gets Investor Support on Efforts to Fend Off Microsoft

Microsoft's gamble that Yahoo investors will support their takeover of the search engine may already be backfiring. According to published reports, Legg Mason, Yahoo's second largest investor is standing behind Yahoo in its efforts to fend off Microsoft.

Recently, Microsoft gave Yahoo an ultimatum to accept its offer or face a hostile takeover. Yahoo has been trying to demonstrate its value by releasing 3 year revenue projections and announcing details about its forthcoming AMP advertising platform.