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Icahn's Going for It: Launches Proxy Fight Against Yahoo

Posted by: Rob Hof on May 14, 2008

So corporate raider Carl Icahn will indeed launch a proxy fight against Yahoo and its board, according to Reuters and the Journal. No details at this point except that a slate of 12 directors might be announced tonight, a day before the deadline Yahoo set. For now, here’s more on the implications from my blog post yesterday.

But the big question remains: What in this move will prod Microsoft, which declined to launch a proxy fight for fear of driving more talent out of Yahoo or driving Yahoo into the arms of Google or another partner distasteful to Microsoft, to get back in the game?

UPDATE: Here’s the full story, updated this morning with the news that Icahn is indeed going ahead and nominating his own slate of directors. And here’s Icahn’s letter to Yahoo Chairman Roy Bostock.

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BusinessWeek writers Peter Burrows, Cliff Edwards, Olga Kharif, Aaron Ricadela, Douglas MacMillan, and Spencer Ante dig behind the headlines to analyze what’s really happening throughout the world of technology. One of the first mainstream media tech blogs, Tech Beat covers everything from tech bellwethers like Apple, Google, and Intel and emerging new leaders such as Facebook to new technologies, trends, and controversies.



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