icahn

Icahn launches Yahoo proxy fight, may boost stake by $2.5 billion

Billionaire shareholder activist Carl Icahn on Thursday formally announced that he is launching a proxy fight and has formed a 10-member slate in an effort to unseat Yahoo's current board at the company's annual shareholders meeting on July 3.

Icahn, who stated he has acquired roughly 59 million shares of Yahoo, has also sought antitrust clearance from the Federal Trade Commission to acquire up to another $2.5 billion in Yahoo shares.

Microsoft earlier this month walked away from its multibillion-dollar bid to buy Yahoo when the two companies failed to come to agreement over the purchase price.… Read more

Adios, Amateur Hour. The Big Dog marks his turf

Jerry Yang was able to rope-a-dope Steve Ballmer. But he's never had to square off against a royal pain in the ass like Carl Icahn.

This afternoon, Icahn, a billionaire with a God complex--or is that repetitive?--wrote a new chapter in this deliciously goofy Microhoo saga when he launched plans for a proxy contest to challenge Yahoo's famously feckless board of directors with his own handpicked nominees.

Talk about jumping out of the frying pan into the fire.

The problem for Yang is that he's over-matched. We're talking about a geek going up against one … Read more

Motorola names former AT&T boss as chairman

Motorola has named former AT&T Chief Executive David Dorman as its new chairman, the company said Wednesday.

Dorman will succeed outgoing Chairman Ed Zander on May 5, when Zander's current term expires and he retires. Dorman, 54, joined Motorola's board in 2006. He currently serves as a managing director and senior adviser at the private-equity firm Warburg Pincus.

Motorola will likely be getting some new board members at that meeting; private-equity executive William Hambrecht and Keith Meister, managing director of Icahn investment funds, will be nominated for Motorola's board at the shareholder meeting. That was … Read more

Motorola and investor Icahn reach a deal

Motorola and activist investor Carl Icahn on Monday announced a settlement to their long-running conflict. The result: Two Icahn allies will be nominated to Motorola's board of directors.

As part of the deal, all outstanding lawsuits will be dropped, and Icahn has agreed not to launch a proxy battle at the company's upcoming shareholders meeting.

Private equity star William Hambrecht and Keith Meister, managing director of Icahn investment funds, will be nominated for Motorola's board at the shareholders meeting. Meister has also been appointed to the board, effective immediately.

The Icahn Group owns about 6.4 percent … Read more

Splitting Motorola: Will this make Icahn happy?

You have to hand it to corporate raider Carl Icahn: He sure knows how to stir it up.

Wednesday morning, ailing Motorola announced that it will split into two companies next year. The news doesn't come as a shock to the many who believed something dramatic had to be done to fix Motorola's troubled handset business. And it probably doesn't surprise Icahn, who has been hounding Motorola for nearly a year.

The question that's now bound to be on the mind of people who watch Wall Street like most people watch Sunday football: What does Icahn … Read more

Icahn sues for access to Motorola documents

Updated 8:10 a.m. Pacific time to include Motorola's offer to Icahn of two board seats.

Carl Icahn is still dogging Motorola. On Monday, the billionaire investor said his investment company, the Icahn Group, filed a lawsuit intended to force Motorola to hand over documents related to its mobile devices business and use of corporate aircraft by senior managers, board members, and their families, Reuters and other news agencies reported.

Saying the information will help him determine what Motorola's board should have done to help the company right its ailing handset business, Icahn added that he intends … Read more

Carl Icahn prepares for a blogging debut

Carl Icahn has been called many things: corporate raider, shareholder activist, private equity investor, according to Wikipedia.

And, maybe soon, we may add billionaire blogger to the list.

It appears the prolific writer of shareholder activist letters may want to apply his writing skills to a blog on his Icahn Report Web site.

While the Icahn Report home page notes "blog coming soon," the site has already posted its privacy policy and terms of use.

Icahn, who is making a second run at Motorola's board, is considering using the blog to highlight reports that either he or … Read more

BEA Systems stock bucks Wall Street's malaise

BEA Systems investors apparently still hold the faith that a buyout deal will go through--whether it's with Oracle is another matter.

On a day when Wall Street took a hammering, with the Dow Jones falling a sharp 360 points to 13,300.02, BEA's stock rose 1.18 percent to close at $17.08 a share.

At that price, BEA's stock is back to the level it was trading when Oracle yanked its $17-a-share buyout price off the table a little over a week ago.

Previously, the stock sunk to $16.50 a share post-Oracle-pullout and kissed … Read more

As expected, Time Warner CEO Parsons to resign

Following weeks of rumors that his ousting was on the way, Time Warner CEO Richard Parsons announced his resignation effective January 1. On Monday, the media giant's board of directors announced that it has elected Jeffrey Bewkes, currently the company's president and chief operating officer, to Parsons' post.

"Dick Parsons has done an outstanding job during his tenure as chief executive officer," said Robert C. Clark, the board's chairman of the nominating and governance committee. "The board is grateful for Dick's exceptional leadership in turning this company around and putting it on a … Read more