Icahn faces hurdles in pursuit of Yahoo! seats
Posted May 14th 2008 12:00PM by Tech Confidential
Filed under: Deals
Will he or won't he? That's the question of the day surrounding
Yahoo! Inc. (NASDAQ:
YHOO) amid speculation that Carl Icahn could be close to staging a proxy fight for control of the company's board of directors. A formal announcement of his plans could come as early as Wednesday, according to reports, just ahead of a Thursday filing deadline for Yahoo!'s annual meeting July 3.
Icahn probably would not go to all the trouble of amassing a 3.5% stake in Yahoo! if he wasn't intent on pursuing a proxy battle, though there are a number of potential roadblocks that could thwart him.
The biggest appears to be whether Microsoft Corp. (NASDAQ: MSFT) would still be interested in acquiring Yahoo! should Icahn take over the board. All indications are that the company has moved on, though it's entirely possible Microsoft is just posturing and would gladly come back to the negotiating table if it could acquire Yahoo! for $33 a share, or $47.5 billion, its last offer price.
Continue reading at TechConfidential.com.
Tags: Carl Icahn, CarlIcahn, MSFT, YHOO
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