Yahoo! Hits Icahn Below The Belt
Yahoo Inc. (NASDAQ:YHOO) is using Yahoo.com, the #1 homepage in the world to promote their interests. On the homepage, the following message is on the right. When clicking on the message, Yahoo! stockholder information is pulled up. And an article at the top is labeled as: “The Icahn Slate Is Not the Right Answer for Yahoo!”
“On May 15, 2008, Carl Icahn announced his intent to nominate a slate of directors for election at Yahoo!’s 2008 annual meeting of stockholders to take control of Yahoo!. When Mr. Icahn began his proxy contest he had no articulated plan for Yahoo! other than a sale of the Company to Microsoft and today he still lacks a strategy that makes sense for Yahoo! stockholders,” states the article. “His current plan is a complex restructuring of the Company which includes a sale of Yahoo!’s valuable search business to Microsoft.”
Below a couple of articles, there is a screenshot of all of the companies that Icahn was recently involved with and how their stock is performing.
This chart that Yahoo! put together is slightly irrelevant because it does not factor market conditions. For example, Blockbuster Inc. suddenly faced intense competition from Netflix.
Personally I don’t want to see Yahoo! bought by a bigger company or have the company broken apart, but this move was pretty low on Yahoo!’s part. In May 2008, the Yahoo! homepage received over 304 million unique visitors. This is obviously going to tarnish Carl Icahn’s image.
Legg Mason, a 4.4% owner in Yahoo! announced today that they were going to favor Jerry Yang to remain as the CEO. And several other investors are shifting towards favoring Yang. Start the countdown. Something big is going to happen at Yahoo! in exactly two weeks from today.@amitchowdhry or on Google+ at +AmitChowdhry