Here's a story from Reuter's that makes some interesting observations about Yahoo! shareholders. Many of the top investors may be very concerned that Microsoft does not overpay in its bid to buy Yahoo!--because more of their money is invested in Microsoft.
The article states that RiskMetrics Group, a risk management analysis company, found that nearly 90 percent of Yahoo's institutional shareholders also hold shares in Microsoft, including most of the top 20--and that generally, they have significantly more money invested in Microsoft.