Icahn: It's On!

Yahoo gets big-name pressure.

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Proxy fight!

In his letter to Yahoo's board, legendary investor and agitator Carl Icahn threatens to start ousting board members if Jerry Yang and company don't rescind their "unconscionable" decision to reject Microsoft's $33-a-share bid. He chides Yahoo management for "overly optimistic financial forecasts" and warns that shareholders should get a say in any "strategic alternatives" being bandied about by management. He says he's got about 59 million Yahoo shares and a 10-person board ready to go. He is petitioning for government clearance to buy $2.5 billion more worth of stock.

It's on!

TAGS:
Yahoo
Microsoft
  • Kirk Shinkle

    Kirk Shinkle is a senior editor for U.S. News Money and manages the Best Funds portal. Follow him on Twitter @KirkS or email him at kshinkle@usnews.com.

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