The Finch Formerly Known As Gold

15 May 2008

Icahn has Yahoo?

Without making a fuss about it, Carl Icahn has piled up about 50 million shares of Yahoo!, about 3.6 percent of the company.

Now he's going to make a fuss: Icahn plans to nominate as many as ten directors to the Yahoo! board in an effort to prod the company into accepting a takeover bid.

Notes Paul Kedrosky:

I'm not surprised. I went through Yahoo's current board, asking myself who I would keep if I were Icahn ... and I couldn't come up with anyone. It's a faceless bunch who won't be missed.

I doubt this will be the mother of all proxy fights, but it ought to be interesting.

Addendum: MG Siegler at Venture Beat provides the appropriate artwork for the title.

Posted at 9:08 AM to Common Cents