According to the Guardian, Yahoo chief executive Jerry Yang and his Microsoft counterpart, Steve Ballmer, are attracting criticism from investors over the deal that never was.
Mr Ballmer is perceived by some to have failed to gauge support for the takeover among shareholders, leaving him with an unpleasant surprise when Microsoft's price fell by $25 billion following the launch of to $31 (£15) per share initial offer - leaving the industry leader with no choice but to up its offer to $33 per share.
Eric Jackson, an activist hedge fund manager, told the newspaper that Mr Yang was not representing his investors' wishes when he asked for more from Microsoft.
"What I have heard, though, universally, is disbelief and anger at his arrogance and disconnection from reality," he said.
Meanwhile, the Internet Advertising tie-up pilot between Yahoo and Google was pronounced a success by Google chief executive officer Eric Schmidt at a meeting in California last week.
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