Try not to take it personally.

While Yahoo's board would like to wash its hands of Microsoft's unsolicited bid for ownership, institutional shareholders may actually favor the buyout.

According to Reuters, RiskMetrics Group ruled the vast majority (nearly 90 percent, the report stated) of Yahoo's institutional shareholders also have holdings in Microsoft. This includes most of the top 20.

Furthermore, cross-holding shareholders generally have more money invested in Microsoft than in Yahoo, so it would serve their interests if Microsoft did not overpay for its competitor.

"We can expect shareholders who own both companies to pressure Yahoo directors to extract a material sweetener from Microsoft (which will help Yahoo directors save face) that isn't seen to destroy the perceived benefits of the merger, prior to … ultimately succumbing," RiskMetrics wrote in an M&A Edge Note.

Last week Yahoo's board rejected Microsoft's offer to buy the company for $44.6 billion ($31 per share), arguing the cost was too low. And while Microsoft contended the offer was "full and fair," analysts expect the company to bite the bait and bid higher.