Editors' note: This post was updated Friday, May 16, at 5:50 a.m. to include a letter sent to Yahoo executives concerning the proxy fight. The letters have been edited for readability.
With billionaire investor Carl Icahn launching a proxy fight Thursday to unseat Yahoo's board of directors, Yahoo CEO Jerry Yang issued a letter to employees, as the Internet pioneer gears up for battle.
This letter is likely to be the first in a string, as the proxy fight heats up at a rapid pace. Yahoo's shareholder meeting is less than two months away.
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