Valleywag
Corporate raider Carl Icahn, who has purchased 4.3 percent of Yahoo and proposed a new slate of directors for its board, hates Microsoft's latest plan to purchase Yahoo's search marketing business or otherwise partner with Yahoo to gain control of it. "Microsoft is trying to get the milk without buying the cow, and if you look at Icahn's history, he has never been used that way," one of Icahn's secret stooges told CNBC. "He does not want to see Yahoo pushed into some joint venture with Microsoft and is not going to be used to push Yahoo into it." Icahn and like-minded shareholders favoring a Microsoft-Yahoo merger control at least 29 percent of Yahoo. They do not, however, control Microsoft.
Icahn hates Microsoft-Yahoo nonmerger
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10:00 AM on Mon May 19 2008
By Nicholas Carlson
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3 comments
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Icahn may not like it, but what can he do about it... From the looks of it, MS was starting to get apprehensive about the deal towards the end and was waiting for the first chance to back out of it... Which they kindof got... Ousting the board would definitely send out a strong message about Icahns (and the other investors) loss of confidence in the board.. But would it get back the deal that they wanted? It wouldnt... Also, came across these cartoons about the MS-Yahoo deal and the Icann episode as well, which found interesting... http://ameteurtooner.blogspot.com/search/label/Microsoft%20-%20Yahoo
Market also hates this move. MSFT is taking a beating today.
Yahoo seems to be doing something right in the negotiations by getting Google and Microsoft compete for it.
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