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Email Confirmation
Icahn Weighs Yahoo Fight
by Portfolio Staff
May 13 2008
May 13 2008
Investor is said to have built a stake in the company.
Industry:
Technology
Summary:
The Company is a global Intenet brand and trafficked destinations worldwide. It is focused on powering its communities of …
Primary executive:
Jerry Yang,
Microsoft has left the field of battle, but 
Yahoo may yet come under assault.
Carl Icahn, the activist investor with a long history of proxy fights, has accumulated as many as 50 million shares of Yahoo, The Wall Street Journal reports. That is nearly a 3.7 percent stake in the company.
Shares of Yahoo rose more than 5 percent on speculation that Icahn could start a challenge to win control of the board at Yahoo. The deadline for nominating rivals is Thursday.
Icahn has had mixed results in proxy fights. He has successfully pushed Motorola to split off its handset business and won seats at Blockbuster. His challenge to Time Warner led to a somewhat embarrassing retreat.
Still, there are a number of shareholders who are unhappy with how Yahoo and its chief executive, Jerry Yang, handled the discussions with Microsoft, and they could support a challenge.
Yahoo may yet come under assault. Carl Icahn, the activist investor with a long history of proxy fights, has accumulated as many as 50 million shares of Yahoo, The Wall Street Journal reports. That is nearly a 3.7 percent stake in the company.
Shares of Yahoo rose more than 5 percent on speculation that Icahn could start a challenge to win control of the board at Yahoo. The deadline for nominating rivals is Thursday.
Icahn has had mixed results in proxy fights. He has successfully pushed Motorola to split off its handset business and won seats at Blockbuster. His challenge to Time Warner led to a somewhat embarrassing retreat.
Still, there are a number of shareholders who are unhappy with how Yahoo and its chief executive, Jerry Yang, handled the discussions with Microsoft, and they could support a challenge.
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