More investors are looking for an AOL (AOL) and Yahoo (YHOO) merger.

Two Yahoo investors have called on a merger with AOL and want the latter’s CEO, Tim Armstrong, to run the new company. Armstrong has expressed that he doesn’t think a merger is going to happen soon, but he has acknowledged that there would be benefits to it, reports Reuters.

Two AOL investors have also expressed their interest in a merger with Yahoo. They believe that a merger of the two companies could result in savings of $1.5 billion a year. Armstrong has said that if there was a merger, it would be a friendly one and not hostile, Reuters notes.

This isn’t the first time that a merger between AOL and Yahoo has been brought up. In September, a Yahoo investor called for the two companies to merge and cited the benefits it would bring. They also said that the company should look to reduce its expenses.

AOL shares were up 1% as of Wednesday afternoon and YHOO shares were up 3%.

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