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 Send to email | Yahoo (YHOO) May Bribe Icahn With 2 Board Seats, He Wants 4 in YHOO |  By Silicon
el 03-Jul-2008 |
carlicahn.jpg: Paste this image in your site, Myspace, Facebook, Ebay copy this code...
 Carl Icahn is down a couple hundred million dollars on his Yahoo (YHOO) gamble. His buddies, Boone Pickens and Dan Loeb--if they haven't run for the hills--are getting buried, too. So they want blood (in the form of control).
Yahoo, meanwhile, is getting shelled from all sides for blowing the Microsoft deal, especially as its stock sags back toward the teens. There's at least some chance that Jerry and the board will be tossed out on their rears at next month's shareholder meeting. So Yahoo's trying to find some way to broker a peace.
Specifically, Yahoo is considering bribing Icahn by giving him two board seats, says Kara Swisher. Of course, Icahn's smart enough to know that all this will do is allow him to insult Yahoo board members in person a few times a year, so he wants more. Specifically, he wants four.
Four seats wouldn't give Icahn a majority (the board is currently 9), but it would put him in a position in which he only had to persuade one additional member to make changes.
The first change he'd make? Based on his previous vituperations, tossing Jerry.
See Also:
Yahoo, Microsoft, Time Warner, News Corp, and AOL Agree To Talk Forever and Do Nothing
Latest Yahoo Chatter: Jerry and Sue Toast
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| Icahn To Motorola: No Deal! (MOT) | | More drama in Carl Icahn's bid to shake things up at troubled cellphone maker Motorola: He's rejected an offer for two seats on the company's board, the WSJ reports.
Why? He's looking to get four seats filled, not [..] Read complete article | | Published 24-Mar-2008 by Silicon in MOT
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| Carl Icahn begins proxy bid for Yahoo |  Yahoo, fresh off the Microsoft rollercoaster, is about to find itself in the midst of yet another takeover bid. Carl Icahn, the world’s 46th richest man, is about to begin a proxy bid for the internet giant. The mogul has nominated a board of 10 people to replace the current Yahoo board of advisers. In [...] [..] Read complete article | | Published 15-May-2008 by Joshua Karp in News
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Here's the official end of the Yahoo-Icahn proxy war: Yahoo will give the corporate raider 3 seats on its board (one for himself, plus two more), and Carl agrees stop fighting. The basics: [..] 
He's about to become a Yahoo (YHOO) board member. He owns 5% of the company. Yet Carl Icahn, who led a proxy fight to replace Yahoo board and management, won't be attending [..] 
Carl Icahn sent his howler to the Yahoo board (full text below). Lots of fun we're-mad-as-hell rhetoric--the board's actions have been "insulting" and "deceitful"--and one actual construct [..] 
Carl Icahn does have a sense of humor: Dallas Mavericks owner Mark Cuban -- the guy who milked Yahoo for $5.7 billion fo [..] 
The drubbing Carl Icahn took last week may just have beaten the stuffing out of him. The raider "hinted" that he might not press forward with his campaign to get Yahoo's board fired, Reuters [..] 
