Icahn Is Said to Plan a Proxy Battle at Yahoo

Carl C. Icahn, the billionaire investor and activist shareholder, has decided to move ahead with plans for a proxy fight at Yahoo and will propose a dissident slate of directors, people with knowledge of the plans said Wednesday.Mr. Icahn, who has told associates that he has bought as many as 50 million shares of Yahoo, is leaning toward trying to oust the entire board by proposing a slate of 10 candidates, these people said. The deadline for nominating a dissident slate is Thursday.
http://nytimes.com/2008/05/15/technology/15yahoo.htmlA Very Hostile Bid for Yaho: Salvo From Icahn Opens Proxy War
When Microsoft chief executive Steve Ballmer was trying to buy Yahoo, he didn’t want to appear disagreeable, let alone hostile.Now comes billionaire investor Carl C. Icahn, who has no such qualms.In launching his bid yesterday to replace the entire Yahoo board with a slate of his choosing, Icahn wrote a letter to Yahoo in which he called the board’s actions in dealing with Microsoft “irrational,” “irresponsible” and “unconscionable” — all in the opening paragraph.
http://www.washingtonpost.com/wp-dyn/content/article/2008/05/15/AR2008051500707.htmlYahoo faces struggle for control
Yahoo faces a proxy fight for control of the company by a billionaire activist with a history of closing controversial corporate deals.Carl Icahn has announced he will file a slate of alternate directors to replace the present board when it gets together for its shareholder meeting on 3 July.

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