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Icahn says Yahoo-Google Advertising Deal "might have merit"

Administrator from GB

engine is a WebmasterWorld Top Contributor of All Time

joined:May 9, 2000
posts:24156
votes: 522

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.

Icahn says Yahoo-Google Advertising Deal "might have merit" [biz.yahoo.com]

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joined:July 13, 2006
posts:500
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He has lost over $100,000,000 per month on this great investment. I think he is talking it up so that hopefully the stock price will recover slightly and he can cash out.

Senior Member

joined:Dec 4, 2002
posts:1958
votes: 0

Mikedee has it. I'm guessing he's talking it up, selling it down.

Junior Member

joined:May 16, 2006
posts:60
votes: 0

yep. i hope yahoo stock goes to the teens.

Preferred Member

joined:Aug 11, 2004
posts:582
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Nice moves from Yahoo to protect themselves: the severance package and now the G deal, nice poison pills, I hope Icahn has a strong metabolism to survive them.

Senior Member from US

jab_creations is a WebmasterWorld Top Contributor of All Time

joined:Aug 26, 2004
posts:3168
votes: 22

What would you people do if Brett suffered a hostile take over here at WebmasterWorld? Given the obvious changes in site policy would you folks have the same attitudes then?

I for one am rooting for Yahoo, it's not always about money.

- John

*Edit for Typo*

[edited by: JAB_Creations at 8:48 pm (utc) on June 17, 2008]

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joined:Nov 27, 2001
posts:301
votes: 0

it's not always about money

You joking me right?

WW is not a publicly traded stock whereas Yahoo! is.

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joined:Aug 8, 2004
posts:1679
votes: 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.