Icahn to spank Yang?
Tuesday, May 13, 2008 17:23BeyondGenius.com knew that the Microsoft-Yahoo deal would go through, but we didn’t see the introduction of Carl Icahn, the enigmatic billionaire activist investor, who is considering whether to mount a proxy fight to take control of board seats at Yahoo.
Late last week, Icahn built a significant position in Yahoo that may be as much as 50 million shares worth more than $1.2 billion.
Icahn is said to be unable to get a confirmation that Microsoft will return to the negotiating table should all or part of Yahoo’s board be replaced, according to those close to him.
Look for this deal to push through and a deal to be struck at a price less than Microsoft’s last bid. This saves face for Microsoft, makes a lot of quick money for Icahn, and makes Jerry Yang look ridiculous.
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