- Sunday, 12 July 2009
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The thing with high tech is that you always end up using scissors - David Hockney
Icahn and Microsoft to oust Yahoo board
CORPORATE RAIDER Carl Icahn and convicted monopolist Microsoft have asked Yahoo shareholders to vote out Yahoo's board and install Icahn's proposed slate of replacements.
Icahn said in a statement released early Monday, "Steve [Ballmer] made it clear to me that if a new board were elected, he would be interested in discussing a major transaction with Yahoo!, such as either a transaction to purchase the 'Search' function with large financial guarantees or, in the alternative, purchasing the whole company."
Vole confirmed Icahn's statement practically word for word. In early morning trading, Yahoo shares rose 9.37 per cent to $23.35 on the news. µ
See Also
Yahoo
not under Volish siege
Yahoo
postpones shareholder meeting
Microsoft
still fawning over Yahoo
Yahoo
boss attacks shareholder shuffle
L'Inq
Cnet
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All very predictable, Microsoft moves another competitor to the ex-competitor graveyard, and big stinking rich 'investor' makes a load of money on the back of hardworking people.
Excuse me while I try to suppress an involuntary gagging reflex...
This is how it would go down.
Tell Icahn we talk after he has a new board. When all Icahn's cronies are on the board, pull back and say no deal. Watch as Yahoo stock plummets because the board has no clue how to actually run the business. Make offer of $10 per share and chuckle inside as Icahn losses a fortune for butting into other people's affairs.