Yahoo! May Have Gotten Away From Microsoft, If It Wasn’t For That Meddling Icahn!
“To the extent he can get the parties back to the table I’d be all in favor of that,” stated Legg Mason Inc. portfolio manager and Yahoo!’s second-largest shareholder, Bill Miller. “But there’s some risk that Yahoo management will become tied up with Icahn or other shareholders and is distracted.”
Carl Icahn, one of today’s most aggressive investors is plotting to buy up some Yahoo! stock and bring Microsoft back into negotiations. Since Microsoft’s bid on the search engine company, Carl Icahn bought 50 million shares in the Sunnyvale, Calif. Yahoo! Inc. TOmorrow, Icahn was given a deadline to submit a list of alternative board of directors to oppose Yahoo!’s board at the July 3 meeting. Will Yang still remain CEO after all of this? We’ll find out in 2 months.
Icahn is notorious for putting the pressure on struggling companies to seek ways to stay afloat or absorb themselves into large companies.
Icahn’s net worth is $14 billion and he is the 46th richest man in the world. Icahn is especially known for his investments in Trans World Airlines, ACF Industries, American Railcar Industries, Motorola, Blockbuster, Philip Services, Marvel Comics, BEA Systems (acquired by Oracle), and Lear Corporation.
Will Microsoft reopen their checkbook for Yahoo!? Stay tuned.
 WSJ: Icahn Buys Yahoo Shares; Mulls Board Proxy Contest by Gregory Zuckerman and Kevin J. Delaney