Msg#: 3676088 posted 4:52 pm on Jun 16, 2008 (gmt 0)
Billionare financier Carl Icahn, who launched a proxy battle in May to replace the board of Yahoo Inc (NasdaqGS:YHOO - News) in the wake of its failed deal to be acquired by Microsoft Corp (NasdaqGS:MSFT - News), said on Sunday the subsequent deal Yahoo forged with Google (NasdaqGS:GOOG - News) "might have some merit."
"While the Google deal is not the same as an offer of $34.375 per share for Yahoo, I am continuing to study it, and it might have some merit," Icahn told Reuters in his first public comments since Yahoo disclosed the Google ad-sharing deal on Thursday.
Icahn declined to comment on whether he would continue to press his proxy battle to replace the board of Yahoo in light of the fact that the company has done a deal with Google.
Msg#: 3676088 posted 9:36 am on Jun 20, 2008 (gmt 0)
Nice moves from Yahoo to protect themselves
You are confusing Yahoo (the company) and the Board (headed by Young) - the latter protected himself (and his toy), but seriously hurt the company's prospects - effectively what he did is breaking his fiduciary duties to look after all shareholders of the company rather than his own interests.
It remains to be seen whether Yahoo-Google deal will actually be allowed by anti-competitive entities, because this deal is certainly explicitly designed to reduce competition in the marketplace.