I Bet $31-Per-Share Sounds Pretty Good Right About Now, Eh?

Now that Yahoo is trading at $12.63 in an economy that’s falling Homer Simpson-style down the long rocky slope of economic collapse, some of the company’s institutional investors are hoping to convince it to sell itself to Microsoft again.

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Mithras Capital Asks Microsoft to Detail Proposed Yahoo Deal

Investment firm Mithras Capital, which owns 1.7 million Yahoo (YHOO) shares, today sent an open letter to Microsoft (MSFT) CEO Steve Ballmer proposing that the software giant outline the “alternative transaction” that the company has said would have lifted the value of Yahoo shares to more than $33 a share.

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Yahoo Holder Mithras Capital to Back Icahn Slate

Mithras Capital, an investment firm which holds 1.7 million Yahoo (YHOO) shares, said in a letter to Yahoo Chairman Roy Bostock, CEO Jerry Yang and President Susan Decker on Friday that Mithras plans to vote for Carl Icahn’s slate of directors at the company’s upcoming August 1 annual meeting.