News
Yahoo! now target of new takeover
Categories: Search Engines
15 May 2008
Yahoo! is under attack from a sole shareholder, keen to oust its board, it has been reported.
Carl Icahn, billionaire investor, has decided to go ahead with plans to fight the current board, led by Jerry Yang, according to the New York Times.
The move could bring Microsoft back into negotiations after its recent failed attempt to buy the company.
"When Microsoft backed off there was a lot of investor anger and now Carl Icahn is sabre rattling there will now be more pressure on Yahoo to renegotiate with Microsoft," Shirley Westcott, managing director of policy at Proxy Governance, an independent proxy advisory firm, told the BBC.
News reports have said Mr Icahn has prepared at least 12 potential candidates for the new board, before today's nomination deadline.
Microsoft had hoped it would gain access to the social firm's huge number of users and increase its advertising revenue.
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