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Icahn to battle Yahoo to accept Microsoft bid |
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| Business and Law | ||||||
| By Reuters (via Yahoo) | ||||||
| Thursday, May 15, 2008 14:03 | ||||||
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Financier Carl Icahn on Thursday launched a proxy battle to force Yahoo to reopen buyout talks with Microsoft, saying the Yahoo board had acted "irrationally" in refusing its $47.5 billion offer. Icahn harshly criticized Yahoo for the breakdown in talks, and said he had accumulated 59 million shares and options in Yahoo and assembled a 10-member dissident board slate for election at Yahoo's annual meeting on July 3.
Read the complete story here.
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