Icahn Stirs Muck for Yahoo on the Tails of the Microsoft Bid
Carl Icahn, an ambitious investor and significant stockholder of Yahoo shares, expects to win a vote by the board to remove current CEO, Jerry Yang from his title. Icahn is disappointed with Yahoo’s rejection of Microsoft’s takeover bid, and with just cause. The company’s shares continue to deteriorate, falling 32 from last year. Yahoo claims their stock was worth more than what Microsoft offered and allows them to refocus their efforts to core business. With another drop in value today, the bid, no longer on the table, becomes a more attractive offer to shareholders, and momentum is building.
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