icahn

EIC Squared: Wireless mergers, Apple alert, and the battle for Yahoo's soul

On this week's EIC Squared podcast, ZDNet's Larry Dignan and I discuss the latest moves in carving up the wireless world as Verizon Wireless announced plans to acquire Alltel for $28.1 billion. It won't be long before the U.S. wireless industry shakes out into AT&T, Verizon, and a Sprint/T-Mobile merger. We also discuss the latest news in the travails of Yahoo as it tries to keep Carl Icahn from taking over the board.

Plus, we speculate about the Steve Jobs' keynote at Apple's Worldwide Developers Conference on Monday.

Yahoo rebuts Icahn: You have no plan

Yahoo Chairman Roy Bostock fired back at Carl Icahn Wednesday evening, accusing the investor of having no comprehension of the facts and no plan for the company besides selling it to Microsoft.

"Your letter seriously misrepresents and manipulates the facts regarding the recent events pertaining to Microsoft and Yahoo," Bostock said in a letter to Icahn. "Conspicuously absent from your letter is any credible plan for Yahoo other than a repetition of your insistence that the company should sell itself to Microsoft."

Bostock's letter came in response to one earlier in the day from Icahn, who accused Yahoo CEO of trying to sabotage Microsoft's acquisition attempt … Read more

Icahn says Yahoo's not telling the truth about 'Microhoo'

Stepping up his one-man PR offensive, activist investor Carl Icahn described as "completely disingenuous" Yahoo's contention that disagreements over price torpedoed acquisition talks with Microsoft.

Icahn, a veteran negotiator, broke an uncharacteristically long silence by talking to the media this week to rally anti-Yahoo opinion. Yesterday it was The Wall Street Journal, today it was CNBC.

"Sue Decker says today 'We're doing everything we can but the price isn't high enough.' It's not high enough because of (a proposed severance) package," Icahn said in an interview on the CNBC program, Fast Company. &… Read more

News.com Daily Podcast: Why ad execs remain social network skeptics

Carl Icahn to Jerry Yang: "It's time to go;" Comcast's controversial plan to deal with bandwidth hogs; and ad execs say social networks may be in for a rough patch. Listen now: Download today's podcast

Billionaire investor Carl Icahn says it's time for Jerry Yang to go--and that some Yahoo board members need to walk out the door as well. Meanwhile, the No. 2 exec at the company says that negotiations with Microsoft about a possible sale continue. Podcast host Charles Cooper talks with CNET News.com's Dawn Kawamoto about the latest twist … Read more

Icahn in dilemma over Yahoo severance plans

Billionaire investor Carl Icahn is in a bit of a conundrum.

On Wednesday, in a letter sent to Yahoo's chairman, Icahn called on Yahoo's board of directors to rescind the company's controversial employee severance plans, fearing it was an impediment to a Microsoft buyout deal.

But as reported Tuesday, Icahn's proxy fight is what's keeping the controversial severance plans in play.

Icahn's proxy fight is considered a "potential change in control," which means Yahoo's board can't voluntarily remove the severance plans, attorneys say.

So, what are his options?

A. Give … Read more

Why Carl Icahn's taking aim at Jerry Yang

More rumblings in the ongoing Yahoo-Microsoft saga, with Carl Icahn calling for Yahoo CEO Jerry Yang's head. Meanwhile, the board has set its annual shareholders meeting for August 1. And just to keep things extra interesting, Sue Decker, the No. 2 exec at Yahoo, got up at a public forum to say that yes, we still are talking to Microsoft. Check out my interview with CNET News.com reporter Dawn Kawamoto, who deconstructs the latest chess moves.

Icahn to Yahoo: Nix the poison pill, now

Editor's note: Updated on June 4, Wednesday, at 3:06 p.m. PDT with comments from Carl Icahn during an interview on CNBC.

Billionaire investor Carl Icahn, who is waging a proxy fight with Yahoo, sent a letter to Yahoo Chairman Roy Bostock on Wednesday. Here's his letter in its entirety:

Roy Bostock Chairman Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089

Dear Mr. Bostock:

I have long been cynical about the effectiveness of many of the boards and CEOs in this country and as a result the inability of our companies to compete. I have constantly complained … Read more

Yahoo sets shareholders meeting for August 1

Updated at 8:09 p.m. PDT with more information on the proxy contest.

Yahoo announced Tuesday it will hold its annual shareholders meeting on August 1, setting the stage for a contentious proxy battle with billionaire shareholder Carl Icahn.

The shareholders meeting will be held at 10 a.m. PDT at The Fairmont hotel in San Jose, Calif.

Yahoo will be asking its shareholders to re-elect its current board of nine directors, while Icahn is challenging the board with his own slate of dissident directors.

Icahn, at the time he filed his preliminary proxy, said he felt the current … Read more

Report: Icahn says Yahoo CEO has got to go

Updated: 5:15 p.m. PDT with annual meeting announcement.

Billionaire investor Carl Icahn plans to seek the ouster of Yahoo CEO Jerry Yang, should his dissident slate of directors gain control of Yahoo's board, according to a report in The Wall Street Journal.

Icahn previously has centered his comments on removing Yahoo's board of directors, of which Yang is one of nine members who are up for re-election to a one-year term, when the next annual shareholders meeting is held.

Yahoo announced later in the day that it planned to hold its annual shareholders meeting on August … Read more