Money Matters

Icahn: It's On!

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May 15, 2008 RSS Feed Print
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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

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ontyime1.txt;4;5

ZolGwuQm of 10:42AM August 10, 2009

Board members should definitely be contacted before such an offer is turned down. Jerry Yang had better get a grip and put his ego to the back.

Carol of NY 1:17PM May 15, 2008

Money Matters

Katy Marquardt came to U.S. News from Kiplinger's Personal Finance magazine, where she profiled rising stars in the mutual-fund world and wrote about investing in stocks and racehorses. Katy hails from Abilene, Texas, and graduated from the University of Texas-Austin.

Kirk Shinkle is a senior editor at U.S. News. Formerly, he covered business and economics on both coasts for Investor's Business Daily. A native of the Montana-Texas corridor, he currently resides in the wilds of west Brooklyn. His checkered online evolution looks like this: Friendster, still (!). MySpace, no. Facebook, yes. He blogs here, Twitters occasionally, and has yet to Tumblr.

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