Investor launches Yahoo challenge

[gkd_uk]

The billionaire investor Carl Icahn has launched a battle to topple the Yahoo board and replace its 10 members with his own slate of directors.

Mr Icahn said in a letter to Yahoo that it was clear the board had acted "irrationally" in its dealings with Microsoft, which tried to buy it.

Shareholders will now get the choice between the two boards at the annual meeting on 3 July.

Mr Icahn wants to buy an additional $2.5bn worth of Yahoo shares.

Read more here

 

[Lovely]

Thanks for this post, I know there will be problem in yahoo board after the Microsoft pull out of the bid.

 

[Gorkfu]

Interesting stuff, this could have an effect on other yahoo investors. Mr Icahn makes good points in the article, some think it wouldn't do anything to Google's stance in the market. I would say it depends on the choices they would make if they were to merge, which of course they won't so yea...

 

[Cryxellis]

It was a long time issue, and all I can say was if microsoft and yahoo is about to merge for sure they will make a good combination..