Icahn Threatens Yahoo Board Fight After Failed Bid (Update1) |
| Bloomberg - May 15, 2008 |
Billionaire investor Carl Icahn threatened to seek control of Yahoo! Inc.'s board if the Internet company fails to reopen takeover talks with Microsoft Corp., the software maker that scrapped a $47.5 billion bid this month.
Icahn said today that he owns the equivalent of 59 million Yahoo shares and created a slate of 10 directors, including Mark Cuban and Frank Biondi Jr. All 10 of Yahoo's directors are up for re-election at the annual meeting on July 3.
Icahn has led proxy fights at companies such as Motorola Inc. and drugmaker ImClone Systems Inc., frequently pushing them to sell part or all of their businesses to help revive sagging share prices. Today he urged Yahoo to make a deal with Microsoft, saying the combination ``is by far the most sensible path'' if they want to take on Google Inc.
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- Posted: 2008-05-15 08:52:53
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