Yahoo quickly responded to Carl Icahn’s proposal to sell Yahoo to Microsoft for $34.745 per share. While the company said that the strategy to put out a price publicly to re-attract Microsoft’s interest is “ill-advised, the company’s board said that they “are open to any transaction including a sale to Microsoft if it is in the best interests of shareholders.”

Yahoo’s board also said that that Icahn has no “credible plan” to operate Yahoo.