Gawker
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yahoo
Icahn buys more Yahoo shares, considers H-P exec for CEO gig
Jerry Yang's least favorite investor bought nearly seven million more shares of YHOO. BoomTown reporter Kara Swisher did my homework for me again: Todd Bradley, head of H-P's $28 billion Personal Systems group, has been added to the list of potential Yahoo CEOs. Just to keep things complicated, the board my appoint an interim CEO to give off the appearance of someone actually doing something at Yahoo.(Photo by AP/Charles Rex Arbogast)
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By Paul BoutinComment by siliconvalleydropout: cheap stocks icahn just couldnt help himself 1 Responses | Other threads
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yahoo
Mr. Icahn is here for dinner, Mr. Yang
It's not often in life that you have to share a cordial dinner with someone who just a few months before publicly called for your job. But that's what Yahoo CEO Jerry Yang gets to do tonight. Back in June, corporate raider Carl Icahn said that if he were to be given control over Yahoo, he would "hire a talented and experienced CEO (attempting to replicate Google's success with Eric Schmidt) to replace Jerry Yang and return Jerry to his role as Chief Yahoo." Icahn never gained control of Yahoo, of course, but he did win three seats on an expanded board — one that will meet for the first time this week. The group will meet twice this week, sources told the Wall Street Journal. First for dinner tonight and then for a meeting tomorrow. Other than an update on the on-again-off-again merger negotians between Yahoo and Time Warner, sources won't say what the board will talk about tonight or tomorrow. We already know, however, how Yang's body language will look if things get hostile.
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Comment by giddieup: if anyone is expecting things to change at yahoo then they need to stop hallucinating. having 3 ppl in that board... more » | Other threads
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hires
Yahoo board officially adds Icahn buddies Chapple and Biondi
Carl Icahn's proxy battle is officially over, with Icahn adding former Nextel CEO John Chapple and former Universal Studios chairman and CEO Frank Biondi to his minority position on Yahoo's board according to an announcement from the company. "We are pleased to add people of Frank’s and John’s caliber to our board," chairman Roy Bostock said in a prepared statement. Chin up, Roy — at least you still have your seat. [New York Times] -
carl icahn
Icahn expected to name old white men to Yahoo board
With former AOL CEO Jon Miller out of the running, thanks to Time Warner's last-minute meddling, sources with knowledge of the situation say they expect corporate raider Carl Icahn to name former entertainment executive Frank Biondi and former advertising executive Edward Meyer to Yahoo's board. [BoomTown]
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Comment by its_a_feature: In contrast to how well the young, Asian board member seems to be running the show? more » | Other threads
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blogging for dollars
Icahn Report to feature Real Reporting™
Now that Carl Icahn has his seat on the Yahoo board, he'll presumably be too busy correcting the company's corporate governance abuses to blog properly at the Icahn Report (and by "blog properly," we mean "complain about the mainstream media"). So he's hired hedge fund reporter Dane Hamilton from Thomson Reuters to help out. If Google CEO Eric Schmidt is so worried about the fate of investigative journalism, maybe he should take a page from Icahn and adopt the de Medici model — commission work as a latter-day patrono. (Photo by AP/Shiho Fukada)
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By Jackson WestComment by buzzzkilll: When is a blog not a blog? When you hire a reporter to crank it out for you. more » | Other threads
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carl icahn
Yahoo shareholder nap scheduled for today
Today was supposed to be the day of the big proxy fight. Instead, megamogul Carl Icahn has announced he won't be there, because he realized last week that "it was impossible to gain enough support from the large institutions to win a majority of the Yahoo! directorships." Wake us when it's over?
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By Paul BoutinComment by WagCurious: Carl's moved on to imClone. That's where the action is this week. more » | Other threads
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yahoo
Carl Icahn suddenly decides he doesn't want to create a scene
Now that corporate raider Carl Icahn has been mollified with a seat on Yahoo's board, he's all about keeping a low profile. On his blog, the Icahn report, he says he will not be appearing the Yahoo shareholder meeting: "The proxy fight is over and it will not do shareholders or Yahoo any good to have the annual meeting turn into a media event for no purpose." Icahn then proceeds to complain about evil institutional investors and how because of them he's stuck with a minority position, so now he's hoping for a "beautiful friendship" and "look(s) forward to working harmoniously with the new board of Yahoo." While CEO Jerry Yang and chairman Roy Bostock must be happy about Icahn's attitude upgrade, I already miss the cranky curmedgeon version. (Photo by Getty/Michael Nagle)
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By Jackson WestComment by Passerby: Eat My Shit Sandwich Competition: West Coast Tech 1 (even with a Yahoo handicap of -100) East Coast Financiers 0 (that's ZEERO,... more » | Other threads
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yahoo
Alan Patricof to Carl Icahn: You're stuck now
Hypergenteel media investor Alan Patricof has graced portfolio company Huffington Post with an op-ed. He is archly polite in his open letter to new Yahoo board member Carl Icahn. But his message is as subtle as a hammer to the head: Icahn is in deep trouble. Hamstrung by Sarbanes-Oxley regulations and fiduciary duties to shareholders, the feisty corporate raider will have to behave impeccably, lest shareholders or regulators sue him. Yahoo CEO Jerry Yang laid a trap, and Icahn walked right in. Of course, Yang shouldn't laugh too hard — he's now trapped in a boardroom with Icahn. (Photo by Getty Images More »
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By Owen ThomasComment by aquafina: the real losers are the stock holders and employees. now they are stuck with yang and icahn. so, between the... more » | Other threads
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carl icahn
Awkward apologies on the agenda for Yahoo's next board meeting
Last week, Yahoo CEO Jerry Yang was calling corporate raider Carl Icahn an inconsistent numbskull. This week, he's announcing that Icahn will join the board, and hailing his "fresh perspective." Jerry Yang deserves a pat on the back for coming to terms with the hostile investor; an ongoing fight would destroy the company he professed to love. But does he have to shred whatever is left of his credibility in the process? Here's a reminder of what Yahoo wrote about Icahn on its proxyfacts.yahoo.com website, linked to from the Yahoo homepage, until Yang abruptly changed his tune. Perhaps Yang and Icahn can have a nice chat about it before they move on to an acquisition of GitHub. More »
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By Owen ThomasComment by giddieup: i would not expect anything else from anyone at yahoo. wishy washy. changing stance every other week. thats why the company... more » | Other threads
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yahoo raid
Yang paves the way for ex-AOL CEO Jon Miller to join Yahoo board
In an entirely punctuated memo posted to Yahoo's corporate blog and the SEC, Yahoo CEO Jerry Yang — or his ghostwriters — declared that yesterday's agreement to give corporate raider Carl Icahn three board seats and avert a proxy fight allows Yahoo "to get back to the business at hand." But while Yahoo will soon enough be able to focus on doing what it does best — losing market share to Google and talent to startups — Yang and the board still have one more task at hand: filling out its expanded board with Icahn-approved nominees. Bet that one of the names will be fired AOL chairman and CEO Jon Miller. Though not included on Icahn's original slate of alternative directors, Yang mentioned Miller by name in his memo as a potential new board member.
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Comment by terran: @buzzzkilll: Why not, when we get to have a deathly unfunny attention whore like you on this board. more » | Other threads
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yahoo
Jerry Yang's Olympic dreams
With the Icahn business settled, Jerry Yang can move on to more important questions: For example, is he going to the Beijing Olympics? A week ago, he hadn't quite made up his mind.The dithering was utterly characteristic for the perennially indecisive Yahoo cofounder. But you'd think he could commit to a no-brainer like attending the Games. Yang is a Taiwanese native, and no fan of the Communist regime — China's jailing of a blogger, aided by Yahoo China's handover of email records, led to a humiliating session where he was called to the carpet in front of Congress. But the Beijing Olympics is a seminal event in the rise of Asia, where Yahoo has significant investments — one of the few areas where it has an edge on Google. More » -
yahoo raid
Proxy fight over: Yahoo gives Icahn three boards seats for his trouble
There will be no proxy fight at Yahoo's annual shareholder meeting this August 1. Today, Yahoo and corporate raider Carl Icahn agreed to end the fight by awarding Icahn three seats on an expanded, 11-member board. Icahn, who owns 5 percent of Yahoo, told the Wall Street Journal he still wants Yahoo to sell — either the whole company or just its search business at the right price — but that "I share the view that Yahoo's valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to stockholders." More »
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Comment by giddieup: of course they are not. with jerry's lackies controlling the board, it is back to business as usual, which means... more » | Other threads
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yahoo
Chipper Yang's latest memo: "Hi guys!"
Legg Mason portfolio manager saved Yahoo CEO Jerry Yang's job this morning, and far be it from the always-exclamatory Yang to hide his relief. Yang recorded a companywide video address, and reading a transcript filed with the SEC, we can't help but wonder if Yahoo's lawyers missed a few exclamation marks. "Hi guys," the transcript begins — but we're betting it sounded more like "Hi guys!!!!11!!!!" More »
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Comment by Wabewalker: Miracles do happen! He used cue cards! Be still my heart! Pity that whoever was holding them was six feet to... more » | Other threads
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yahoo raid
Why Carl Icahn doesn't have a Yahoo CEO
If corporate raider Carl Icahn ever had any hope of convincing major Yahoo shareholders like Legg Mason's Bill Miller to back his alternative slate against the Yahoo board in a proxy fight, he needed a plan B in case a sale to Microsoft didn't work out. As Kara Swisher puts it, he needed "a solid management team and a cogent plan." For two reasons: One, because without an alternative to a merger with Microsoft, Microsoft would own all the chips in any merger negotiations. Two, by not naming a replacement Yahoo management team, Icahn left major shareholders with the impression that he himself would control the company after winning a proxy fight. Shareholders are unhappy with Yang & Co., but they tell Swisher that "taking such a major step as dumping them and leaving the company in Icahn’s hands — even for a short time he will be there — is decidedly more risky." So if it was so important that he do so, why didn't Icahn ever name a nominee for Yang's job? Because he was caught in a classic Catch-22. More » -
yahoo raid
Yahoo uses its own front door to battle Icahn
Yahoo has posted a big purple link to its anti-Carl Icahn website on the front door at Yahoo.com, with a rotating set of teasers including an Icahn quote, "It's hard to understand these technology companies." Wow, they're just like bloggers who post the letters lawyers send them! But seriously, by using its reach to deliver its own insidery message to shareholders, Yahoo is finally acting like a mainstream media company. Icahn may find tech companies hard to understand, but he's probably figured this out today: He's fighting in public with an opponent whose daily audience dwarfs CNN and the Wall Street Journal. Here's a closeup: More »
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By Paul BoutinComment by greenstench: @jimzin: Bah! They got their point across. Why not put the manager of a Burger King in charge of IBM?... more » | Other threads
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yahoo raid
Moneyman Bill Miller saves Jerry Yang's job
Legg Mason portfolio manager Bill Miller controls 4.4 percent of all Yahoo shares and he's formally declared his plans to vote them for CEO Jerry Yang and the current Yahoo board. In a statement, Legg Mason says it doesn't buy corporate raider Carl Icahn's claim that Microsoft would only offer to buy the company again if it could negotiate with a new board. More »
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Comment by porterhouse125: I keep hearing that Icahn is the "smartest guy in the room"; that he is brilliant and tactically savvy. ... more » | Other threads
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yahoo raid
Bostock and Yang's memo: "Carl Icahn-Microsoft alliance will destroy stockholder value"
In a memo filed with the SEC, Yahoo CEO Jerry Yang and Yahoo chairman Roy Bostock made what we can only hope will be their final case to Yahoo shareholders as to why they should vote against Carl Icahn's alternative board at the company's August 1 annual meeting. (While Yang also signed the memo, you can tell Bostock's actually the one who wrote it, because it uses capital letters.) Their key points:- Yahoo will sell if Microsoft makes a $33 offer.
- Yahoo will sell just its search if Microsoft makes an off ther that "provides real value to our stockholders and resolves the substantial execution and operational risks associated with the separation of our search and display businesses."
- "Mr. Icahn can’t make up his mind about what he thinks will work for Yahoo!" Mostly because he's just in this for a quick buck.
- "Vote your WHITE Proxy Card"
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Comment by Uncle-Sam's Littlle Helper: Hey instead of stupid memos, and being like little kindergarten kids, sit together, offer to write together the contract and... more » | Other threads
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cubicle culture
How pissed off are Yahoos? Ask their janitors, who'd like them to stop peeing in the sink
"PLEASE STOP PEEING IN THE SINK More »
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By Owen ThomasComment by CharBo: Well let's see now, there's an ever increasing number of FOBs coming over to work at Yahoo...replacing the former civilized... more » | Other threads
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nerdfight
Yang and Bostock can't agree on whether to sell Yahoo search
Do Yahoo CEO Jerry Yang and Yahoo chairman Roy Bostock disagree on whether Yahoo should ever sell its search business to Microsoft? Citing several sources, BoomTown's Kara Swisher says she knows what Yahoo CEO Jerry Yang wants, period: More »
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Comment by Tim Faulkner: The above quote is Microsoft's bizarre evidence for claiming they put the deal together last minute (Thursday evening), in good... more » | Other threads
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yahoo
Yang's memo to Yahoos: "i know this could is distracting at the very least"
Two internal memos from Yahoo CEO Jerry Yang dropped yesterday: one for all the Yahoos and one for all the Yahoo's bosses. Neither are disgraced with one single Microsoft-esque capital letter nor any of the blind optimism that plagued Yang and Yahoo president Sue Decker's earlier memos. In one of yesterday's, Yang writes: "proposals and attacks by microsoft and carl icahn leading up to our meeting are likely to get even more contentious. i know this could is distracting at the very least." Now, one might argue Yang's grammatical miscue in the second sentence stems from a physical weariness only too obvious in recent photographs of the CEO. But given Yang's taste for poetical punctuation, we like to think the "this could is distracting" refrain is actually Yang's attempt to offer the Yahoos a mimetic clue — a warning, even — of the days of confusion and anarchy shortly ahead. Decide for yourself, though. Both of Yang's memos are below. More »
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Comment by Koans: who did the bullet points not jerry some yahoo not me oh wait cum like. ee more » | Other threads
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yahoo raid
Icahn, Microsoft say Bostock twisted facts about weekend negotiations
In a letter to Yahoo shareholders, corporate raider Carl Icahn writes that he's never seen a company "distort, omit and twist" facts quite the way Yahoo did in a statement the company released Saturday night. Yahoo said it had rejected Microsoft's latest offer to buy Yahoo's search business. In the statement, Yahoo said Microsoft made an ultimatum and gave Yahoo only 24 hours to accept or reject the deal. Naturally, Microsoft agrees with Icahn's assement. In a release titled "Microsoft Sets the Record Straight," Microsoft says that it only proposed a new search deal after Yahoo chairman Roy Bostock called Microsoft CEO Steve Ballmer and asked for one. Microsoft says it worked a proposal up by late Friday and sent it, asking Yahoo to confirm in 24 hours whether or not the proposal was "sufficient to form the basis for the parties to engage in negotiations over the weekend on a letter of intent and more detailed term sheets." "This discussion," reads Microsoft's statement, "has been mischaracterized as a take it or leave it ultimatum, rather than a timetable in order to move forward to intensive negotiations." Yeah, we're lost, too. Microsoft's full statement, below. More »
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Comment by giddieup: but that is how yahoo always operated, flip flop constantly so it looks like they are busy doing stuff. more » | Other threads
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yahoo raid
Icahn files replacement Yahoo board slate with SEC
Corporate raider Carl Icahn made his proxy fight for control of the Yahoo board official today, filing an alternative slate with the Securities and Exchange Commission. The slate includes nine of the ten names Icahn already put forward in a letter to Yahoo chairman Roy Bostock. Bob Shaye, former cochairman and co-CEO of the recently defunct New Line Cinema, is no longer on the list. The filing includes a letter from Icahn to Yahoo shareholders in which Icahn urges them to vote for his slate because "Steve" — as in Microsoft CEO Steve Ballmer — told him it would grease the wheels for a deal: "If a new board consisting of my nominees were to be elected,Microsoft would be willing to enter into discussions regarding a transaction immediately." Icahn's proposed slate and its members brief bios, below. More »
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Comment by dalejo: @MtkgDiva: Sometimes it is about getting the people you feel best for the job. more » | Other threads
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yahoo raid
Microsoft's latest rejected Yahoo offer worth billions of dollars a year
Reason No. 8347 why we're glad we're not Jerry Yang: We like weekends away from work. Yang never gets them anymore. On Saturday night, Yahoo released a statement letting the world know it rejected yet another Microsoft offer to acquire Yahoo's search business. Kara Swisher reported the terms of that deal today. $2.3 billion a year for outsourcing search — why didn't Microsoft offer that in the first place, without corporate raider Carl Icahn holding a gun to Yang's head? That seems easier. The bullet points, below: More »
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Comment by dodgit: Reason No. 8348: Jerry Yang's pay for 2007 as CEO? $1 Not a bullshit $1, like Steve Jobs' "$1 salary + gulfstream... more » | Other threads
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yahoo raid
Yahoo rejects Microsoft/Icahn bid
From the Wall Street Journal: "Yahoo Inc. disclosed Saturday night that it had received and rejected a joint proposal from Microsoft Corp. and Carl Icahn for a restructuring that the Internet giant said would have included the acquisition of its search business by Microsoft." Kara Swisher at AllThingsD has a longer report with quotes from Yahoo and Microsoft execs that weren't in the official statement.
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By Paul BoutinComment by dalejo: @G2GdoB2B: Do we really need all the links to your website in every freakin' post? Can't you guys get... more » | Other threads
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strategery
Murdoch on Microsoft-Yahoo: "There won't be a deal"
Yahoo CEO Jerry Yang, who says shareholders shouldn't give corporate raider Carl Icahn control of the company because he has no plan other than to sell to Microsoft, got a boost from an unexpected supporter: News Corp. chairman Rupert Murdoch. Murdoch told reporters at Allen & Co.'s Sun Valley retreat that "in six months, (Microsoft) will walk away." The crusty mogul added: "There won't be a deal. There's bad personal feelings." More »
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Comment by outside2344: damn, the escort he is walking with back to his hotel room is hot. more » | Other threads
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yahoo raid
Jerry Yang talks to Kara Swisher — the end must be near
After avoiding the viciously loquacious Kara Swisher for a year — even at her big tech conference — normally mellow Yahoo founder Jerry Yang gave the AllThingsD reporter an earful. Yang says No Fucking Way will he hand the keys over to the comedy team of Carl Icahn and His Lack of a Plan B (I'm paraphrasing), in part because Yang doesn't trust that Microsoft, for all its talk, will actually buy Yahoo from Icahn. “And then what will shareholders be left with?" Yang fumes. "A weakened, Icahn-controlled Yahoo.” The best possible outcome — we mean for us — will be a deathmatch proxy battle pitting Yang against Icahn at the August 1 shareholder meeting. (Photo by AP/Paul Sakuma)
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By Paul BoutinComment by Arnaud H: Not "Object Organizer", but "Ontological Oracle." Sorry, just had to geek out there for a moment. more » | Other threads
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your privacy is an illusion
Sun Valley moguls spent $4,300 to $6,110 on shrubs to keep reporters at bay
Among the news from Allen & Co.'s Sun Valley retreat for the rich: Marc Andresseen continues his campaign to tell old media they are old; Carl Icahn would settle for any Microsoft offer that pays $30 or more per Yahoo share; some industrial chemical giant agreed to buy some other company no one's ever heard of. Yet none of the stories feature photographs of the deals going down. Why? Because unlike in years past, the retreat organizers have banned reporters and photographers from "the beloved cafe at the Inn," reports Reuters. What's more, to keep these reporters and photographers from stalking their prey on the hotel's grounds — as any good reporter would — organizers resorted to shrubbery to further shield the moguls' privacy. From the tags still left on the brand-new shrubs (how nouveau gauche), Reuters reporter Kenneth Li estimates organizers spent between $4,300 and $6,110 on the organic fence. -
yahoo raid
6 reasons why Jerry Yang's wrong about Yahoo
Do we still have to pity Yahoo cofounder Jerry Yang? Or is it, at long last, acceptable to simply hold him in contempt? With Microsoft backing corporate raider Carl Icahn's replacement board of directors, and major investor Gordon Crawford also lining up to support Icahn, Yang's time at the company is coming to an end, and he seems to know it. Yet he's trying to stay on anyway. Like any leader facing certain failure, Yang has begun to indulge in pure make-believe. Here's a short list of Yang's Yahoo fantasies. More » -
Corporate Raid
Microsoft to Yahoo shareholders: replace Yahoo board and we'll talk buyout
Yahoo shareholders allied with corporate raider Carl Icahn just got their wish. In a statement, Microsoft has announced that if Yahoo shareholders replace Yahoo's current board during an annual shareholder meeting on August 1, Microsoft will resume merger talks with Yahoo. As for Yahoo's current board, a Microsoft statement reads: "we have concluded that we cannot reach an agreement with them." The full statement: More »
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Comment by giddieup: @sonofapitch: i think that can be said of any institutional investors.. sure..if the company does well so does the stock... more » | Other threads
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yahoo raid
The Yahoo board members we'd most like to see fired
Corporate greenmailer Carl Icahn, some old dude who was stupid enough to buy a lot of shares of Yahoo on the premise that Microsoft would buy the company after it said it wouldn't, wants four seats on Yahoo's board. Yahoo only prepared to reward his intelligence by offering him two, Kara Swisher reports. Why so stingy? This is a once-in-a-lifetime opportunity to clear the dead wood out of the boardroom. Make room! Our nominees for the axe: More » -
Corporate Raid
Reeling Yahoo board talks AOL merger, prepares to give Icahn board seats
Yahoo continues to hold merger talks with Time Warner, discussing a deal that would fold AOL into Yahoo and give Time Warner a minority stake in the new company. Another morning, another round of share-price stimulating rumormongering in the Yahoo saga. If the deal sounds familiar, that's because Yahoo sources first leaked the idea back in April. You're hearing it again because Yahoo shares dropped into the teens two days ago. We don't expect Yahoo-AOL to happen, if only because Microsoft is also said to be interested in AOL and its got a lot more cash and pride on the line. In other Yahoo rumormongering: Reporter's reporter Kara Swisher reports that Yahoo is prepared to avoid a nasty proxy fight with Carl Icahn by giving him two seats on its board. Problem is Ican wants four. Swisher thinks the two will come to an agreement because neither side wants a media-friendly, share-crumbling fight at the company's annual media. Because its not at all too late for such concerns. -
yahoo raid
Microsoft still pushing Icahn onward in proxy fight
After selling Yahoo entirely to Micosoft, corporate raider Carl Icahn's second choice for Yahoo was for it to outsource search advertising to Google. That happened. And since then, Icahn's been awfully quiet, even as he's putting forward a slate to unseat Yahoo's current board of directors. Is Icahn content to sit back and watch his slate lose? Not according to the Wall Street Journal, which reports that he and Microsoft are still working in cahoots: More » -
jerry yang
Yahoo CEO tries to convince shareholders Microsoft never wanted to merge
Perhaps you remember the morning of February 1, 2008, when Microsoft CEO Steve Ballmer made public his intentions to purchase Yahoo at $31 per share. Or maybe you recall Ballmer's angry letter on April 5, demanding Yahoo answer to Microsoft's offer. Yahoo CEO Jerry Yang and the Yahoo board of directors would prefer you not. According to a shareholder presentation the group filed with the SEC — part of its campaign against Carl Icahn's alternative slate — Yahoo's board wants Yahoo shareholders to believe that "the record casts doubt on whether Microsoft was ever committed to a whole company acquisition." More »
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Comment by andrewlsteele: The Microsoft recruiting ad on this post is a nice touch... :) more » | Other threads
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blogging for dollars
Carl Icahn says he'll blog-troll Yahoo soon, promise!
Carl Icahn has finally gotten his online soapbox working so that he can start talking candidly about his proxy battle with Yahoo board, but posts so far have been few and far between. Some are noting that maybe it's just too hard to keep up with the rigors of blogging, but Icahn is now insisting it's the SEC prohibiting him from speaking out. Rather, he's just going to go on the attack against Yahoo management. Maybe he should have just setup a Tumblr account instead? That seems easier. (Photo by AP/Mark Lennihan)
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By Alaska MillerComment by BobDope: that was funny when p-diddy ran the New York Marathon, and he had this fancy Flash-ified 'train with Diddy' website,... more » | Other threads
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acquisitions
Dear Yahoo shareholders, we totes heart you, signed Roy and Jerry
In an open letter to shareholders, CEO Jerry Yang and chairman Roy Bostock assure abused shareholders that they're the only ones who truly love you. They know that Microsoft offered to buy your shares at a premium, and then tried to be just a friend with search benefit, offering $1 billion check and an $8 billion investment. But don't listen to Carl Icahn who says they haven't been good to you — he just doesn't understand that what you share goes deeper than stock price drops. More »
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By Jackson WestComment by giddieup: denial is not just a river in egypt more » | Other threads
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yahoo
Report: Microsoft-Yahoo search deal back on the table
After a deal outsourcing search advertising to Google failed to impress shareholders, Yahoo board members — including chairman Roy Bostock — are reconsidering a deal that would outsource and sell Yahoo's search business to Microsoft instead. This according to a News.com report, which cites a single source — "one major investor who has been in contact with both parties" — and says that like Yahoo, Microsoft is also willing to renew negotiations and even "sweeten" its offer. We're skeptical. More »
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Comment by sample032: This is just fake news so Icahn can unload his shares at the expense of speculators. I have no... more » | Other threads
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blogging for dollars
Carl Icahn finally updates The Icahn Report — powered by Google
No wonder Carl Icahn thinks that Yahoo's search advertising deal with Google has merit — turns out that his blog, The Icahn Report, uses Google to help readers search. Not that there's much content to search, as it just went live today, with an archive only going back a week to June 12. Which just happens to be the day that talks with Microsoft ended and the partnership with Google was announced. One keyword you won't be able to find with a Google-powered search of Icahn's blog? The word "Yahoo."
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By Jackson WestComment by tillman: May be it is his way of protesting against Roy and the board. more » | Other threads
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yahoo raid
Google deal slows activist Yahoo shareholders' momentum
Lawyers for two Yahoo-owning Detroit pension funds saw a Delaware judge deny their request to expedite a shareholder lawsuit against the company. The funds had hoped to speed up the process ahead of Yahoo's annual shareholder meeting that will determine who controls the company's board — Jerry Yang's stooges, or corporate raider Carl Icahn's stooges. As a result of the judge's decision and Yahoo's deal to outsource search advertising to Google, two major Yahoo shareholders now say they will seek a board composed of some of Icahn's selections and some of the current directors. Icahn himself is said to now be merely hopeful he can win "at least some board seats." (Photo by AP/Mark Lennihan) -
yahoo raid
Icahn: Yahoo-Google "might have some merit"
Corporate raider Carl Icahn wanted Yahoo to sell to Microsoft, but after keeping quiet while Yahoo stock tanked last week, he's now making noises that he's okay with the Google deal. He told Reuters: More »
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Comment by QADude: Translation: He's trying to save face and trying to not look like a loser. more » | Other threads
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yahoo
Yahoo shares plummet toward pre-Microsoft merger levels
Word that merger negotiations between Microsoft and Yahoo are over and that Yahoo plans to announce a search deal with Google has Yahoo shares plummeting on Wall Street. There's no word from corporate raider Carl Icahn yet, but with a Microsoft merger stymied, don't be surprised if the sudden drop is the result of Icahn and his friends leaving with their very large piles of cash in tow.
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Comment by simoncameron: This is certain to led credence to the share-holder lawsuits. more » | Other threads
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