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Billionaire Icahn Wows to Lead Yahoo Shareholder Revolt
msnbc.msn.com — Billionaire investor Carl Icahn is setting out to oust Yahoo Inc. ’s board of directors for “irresponsible” and “unconscionable” actions that led Microsoft Corp. to withdraw a $47.5 billion offer to buy the slumping Internet pioneer. “I believe that a combination between Microsoft and Yahoo is by far the most sensible path for both companies.”
MakiMaki- 93 diggs
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- kjames00, on 05/15/2008, -0/+3Yahoo is under attack from all angles...
- NachoBusiness, on 05/16/2008, -0/+2Isn't this the perfect time for Google to take advantage, try to lure over some of the Yahoo faithful? I don't really notice that happening... which seems strange.
- Boshow, on 05/16/2008, -1/+1If the shareholders take the board to court, they would definitely win and force a sale to Microsoft. The board can only hold this off for so long, it is the legal responsibility of the board to act in the best interest of the shareholders. If they can prove that this takeover is in their (shareholders') best interest, then they will have no choice. The only ways they can stop it are A. Delay the annual meeting of shareholders as long as possible (temporary solution), B. Have another company come in and buy out instead (Already tried with AOL Time Warner) C. Prove that they have a plan of reorganization that will improve the companies financial situation.
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