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Icahn's Nine for Yahoo Board
engine




msg:3698011
 3:08 pm on Jul 14, 2008 (gmt 0)

Icahn's Nine [news.cnet.com]for Yahoo Board
Investor activist Carl Icahn is seeking control of the Yahoo board and will run a slate of nine dissident directors, according to his definitive proxy, filed Monday with the Securities and Exchange Commission.

By filing a slate of nine dissident directors, Icahn is seeking to replace Yahoo's entire board at its August 1 annual shareholders meeting. Yahoo's nine current board members are up for re-election to a one-year term. Icahn's goal is to ensure that the next time Microsoft or any other suitor comes a-calling that the path to a buyout will have far fewer potholes in the road.


 

rogerd




msg:3698030
 3:30 pm on Jul 14, 2008 (gmt 0)

With Yahoo's sharp decline in share price following the rejection of MSFT's overtures, non-employee shareholders may be receptive to management change.

goodroi




msg:3698184
 6:09 pm on Jul 14, 2008 (gmt 0)

that depends on how you look at the yahoo stock. it did decline if you compare it to the microsoft buyout offer price. yahoo stock is trading 13% higher than its pre-microsoft price just five months ago. it has dramatically dropped but overall the last six months it has gained.

Edge




msg:3698315
 9:25 pm on Jul 14, 2008 (gmt 0)

Icahn's goal is to ensure that the next time Microsoft or any other suitor comes a-calling that the path to a buyout will have far fewer potholes in the road.

Great, if you don't agree with Icahn or M$ you should be replaced...

BillyS




msg:3698328
 9:44 pm on Jul 14, 2008 (gmt 0)

Let the shareholders decide. That's how this one is going to play out.

The problem is that Y! is being selfish - they don't want to be bought by MS. Unfortunately, they are a public company, so shareholders get to decide if they want to take the money and run.

My Yang keeps acting like this is his company to control - it's not anymore.

Compworld




msg:3698386
 11:05 pm on Jul 14, 2008 (gmt 0)

I believe Icahn and Ying own just about the same amount of shares. in Yahoo. You gotta respect this guy. May not like him, but you gotta respect him. It is doubtful MSFT will buy Yahoo. I would not be surprised if Icahn gets the current circus thrown out and replaces it with his own. Even if he does lose though, Yahoo would be weaker on August 2nd than February 26th or so. Ying can't win. Its a catch-22. If he was not so greedy, he would of been a much richer and have a cozy job doing the same thing he's doing now.. Nothing... For such a smart kid in the 90's he's sure not using a full deck in the 21st century. Although, I think Filo is the largest single shareholder. It would be amazing if Ballmer or Icahn cut a deal with him for his shares. Anyone remember Danny DeVito in Other People's Money?

vincevincevince




msg:3698449
 1:07 am on Jul 15, 2008 (gmt 0)

Great, if you don't agree with Icahn or M$ you should be replaced...

If you don't agree with the shareholders you should be replaced. That's how business works.

momotan




msg:3698491
 2:39 am on Jul 15, 2008 (gmt 0)

The problem with the clowns at yahoo and the bozos at google is that they are a product of the pervasive anti-microsoft sentiment that dominated the 90s because they were the only game in town. These were the guys who put linux on their home PCs while everyone was using windows 95. They still haven't outgrown that mentality. They are willing to screw the shareholders in order to send microsoft packing.

IanKelley




msg:3698553
 4:48 am on Jul 15, 2008 (gmt 0)

My Yang keeps acting like this is his company to control - it's not anymore.

Is that a Freudian slip?

npwsol




msg:3698838
 1:41 pm on Jul 15, 2008 (gmt 0)

I'm inclined to think that if this takeover works and MSFT buys Yahoo!, they'll just dismantle it and all the Yahoo! users will migrate to Google.

Basically, I think this will all backfire in Microsoft's face.

mukoh




msg:3699059
 5:38 pm on Jul 15, 2008 (gmt 0)

IMHO Ying and the board have two weeks left.
Trying to enjoy the limelight until they get voted out.

hutcheson




msg:3699107
 7:01 pm on Jul 15, 2008 (gmt 0)

Only nine dissident directors? What's Icahn going to do with his other finger? Or is there a worldwide shortage of sock puppets?

Hugene




msg:3699203
 8:59 pm on Jul 15, 2008 (gmt 0)

I don't know what to say about Yang, about his style of management (or lack of), neither do I have a say on where Yahoo is going.

What I can say that buying Yahoo is a mistake for M$, for 2 reasons:
1) too expensive, M$ can get better technology for this price
2) M$ doesn't have what it takes to bring Yahoo forward. We have clearly seen this in the Live brand.

It's a loss-loss for both sides. But this Iccann is being so aggressive that he might just make it happen, ruining 2 companies by uniting when they are both looking for something new.

But maybe the truth is that Iccann doesn't care if 2 companies go down, maybe he just wants to sell his stake. That's capitalism for you.

A stressed out Ballmer will make his most expensive takeover, to no result, and a early-web entrepreneur, out of ideas, will get his arm twisted.

Only the old hawk will win here. I'll be sad to see Yahoo go. And M$ shareholders, get ready for your wealth to get wiped.

BillyS




msg:3699240
 9:34 pm on Jul 15, 2008 (gmt 0)

momotan - You're absolutly right. This is latent MS hatred.

My Yang - The Y key is close the the R key...

I'm also a MS shareholder and I do think that buying Y! is a mistake. Live.com is failing and MS realizes they've no viable search offering. They're thinking about buying Y! because buying Google would raise too many market power concerns.

I think this is why MS keeps insisting they only want to buy a part of Y! (Search).

Compworld




msg:3699484
 3:33 am on Jul 16, 2008 (gmt 0)

Yea, it is definitely a mistake to buy Yahoo. But, maybe, if we are all lucky, this would be the last screw-up the board will allow Ballmer to do before they fire him and bring back Gates. Its been down hill since Gates left. Without Gates at the helm, Microsoft, in the long run, is screwed. Microsoft is to Apple as Apple is to Microsoft. Same helm philosophy.

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