Yahoo! shareholder revolt
May 15, 2008Billionaire investor Carl Icahn reportedly has decided to lead a mutiny against Yahoo Inc.’s board in an attempt to pressure the directors into reviving negotiations to sell Yahoo to Microsoft Corp.
To turn up the heat on Yahoo’s board, Icahn has lined up a slate of 10 directors to nominate as replacements, the Wall Street Journal reported on its website Wednesday, citing an unnamed person close to the matter.
Icahn hadn’t returned phone messages from The Associated Press as of late Wednesday. His intentions should become clear soon, however, because Yahoo has set a Thursday deadline for submitting candidates to oppose its board at the company’s July 3 annual meeting.
A representative of Sunnyvale-based Yahoo declined to comment. (link)
Tags: board, carl, icahn, microsoft, mutiny, shareholders, yahoo
May 23, 2008 at 1:43 am
Don’t you think that from history we may learn that Microsoft, at the end, might be behind all this removing of directors move alongwith Carl Icahn. I wrote a piece on this at http://myfinancepage.wordpress.com/2008/05/20/yahoo/ and I surely believe that this yahoo deal looks more like fooling the public about the ‘reality’.