Icahn launches Yahoo Proxy Contest

May 15 2008, 3:00am CDT | by Luigi Lugmayr

As already expected Billionaire invest Carl Icahn launching a proxy contest to unseat Yahoo Inc.'s board of directors according to the WSJ.

Mr. Icahn plans to nominate 10 directors to replace Yahoo's board before today Thursday. WSJ says that their source said Mr. Icahn's nominees will include former Viacom Inc. Chief Executive Frank Biondi, who has worked with Mr. Icahn on other proxy fights.
As reported Mr. Icahn has purchased 50 million Yahoo shares since Microsoft withdrew their offer to purchase the search company.

Mr. Icahn wants to push Yahoo back to negotiate with Microsoft again. Steve Ballmer sure has a big grin on his face observing Mr. Icahn's activities.
More details on the WSJ. Update: More details on the Proxy contest become available on WSJ.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.