Carl Icahn Attempts To Oust Yahoo Board

Posted: May 15 2008, 8:57am CDT | by , Updated: Aug 11 2010, 8:07am CDT, in News | Other Stuff

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The saga of Microsoft and Yahoo may not be over yet. Billionaire investor Carl Icahn has announced that he plans to attempt to out the current board of directors at Yahoo and force Yahoo back to the negotiating tables with Microsoft.

Even if Icahn can oust the Yahoo board, it’s unclear whether Microsoft would return to the negotiating table. Icahn has purchased 50 million shares in Yahoo since Microsoft told Yahoo to take a walk. Microsoft has been clear on the fact that negotiations with Yahoo are over.

Reports claim that Icahn has 12 potential candidates lined up to replace the Yahoo board. Yahoo CEO and co-founder Jerry Yang has been under much heat since turning down what many viewed to be a more than fair offer from Microsoft that placed a significant premium on the company’s stock price.

Via BBC News

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