icahn

Yahoo's Yang throws jabs at Microsoft and Icahn

Updated at 2:20 p.m. PDT, with details about an opinion piece by Yahoo board member Gary Wilson in The Wall Street Journal.

After taking a one-two punch from investor activist Carl Icahn and Microsoft on Monday, Yahoo CEO Jerry Yang threw a few punches of his own in an interview in The Wall Street Journal on Wednesday.

Yang is facing a proxy fight with Icahn, who is seeking to unseat the board and oust the Yahoo co-founder and chief executive from his top-dog position.

In a counter punch, Yang characterized Microsoft as trying to "destabilize" the … Read more

Legg Mason suggests $33 a share for Yahoo

Yahoo's third largest investor offered up some advice Tuesday to dissident shareholder Carl Icahn on what it may take to swing investor votes his way in a proxy fight, according to a Reuters report.

Legg Mason portfolio manager Bill Miller had this observation to offer to Reuters, when queried on whether he would support Icahn's proxy fight to unseat Yahoo's board of directors at the company's August 1 shareholders meeting:

The difficulty with Icahn is he'd have more shareholder support if he would say he wouldn't sell the company for less than $33.

Earlier … Read more

History provides some insight on Microhoo

Microsoft's announcement Monday that it was open to a new Yahoo deal, but only with a new board, struck some as odd. Wouldn't it be better for Microsoft to reach a pact now--with Yahoo's board on the ropes and ahead of its proxy showdown?

Perhaps, but I think Microsoft has come to the conclusion that it just can't deal with Yahoo's current board, regardless of how badly it might need Yahoo's scale.

Over the July 4 weekend, I read Barbarians at the Gate, the classic business tome about Kohlberg Kravis Roberts' takeover of RJR … Read more

Icahn also fighting clock in Yahoo board challenge

Investor activist Carl Icahn needed a sign, a tangible sign, that Microsoft was still interested in buying Yahoo, or at a minimum, its search business, if he were to increase his chances of winning his proxy fight to unseat the company's entire board of directors.

On Monday, in a coordinated effort, Microsoft delivered that sign. The software giant issued a public statement that it was not only willing to discuss a potential buyout of Yahoo's search business, but also, alternatively, a renewed bid for the entire company--providing a "new" board was elected at Yahoo's August … Read more

Daily Debrief: Icahn, Microsoft team up on Yahoo

Ever since Microsoft first stated its intention to purchase Yahoo in February, and Yahoo said no, it's been a roller coaster as the deal goes through its on-again, off-again phases. On Monday's edition of the Daily Debrief, I sat down with reporter Dawn Kawamoto to get the scoop on the latest news that Microsoft might again be interested in acquiring the company, or perhaps just the search portion.

In a one-two punch type of delivery system, investor Carl Icahn and Microsoft appear to have teamed up to oust Yahoo's board. Kawamoto explains why this technique may be … Read more

The Microsoft-Yahoo marriage. Inside the pre-nup negotiations.

Gerri Yang had known Stephen Ballmer for a long time.

They used to go to the same parties. They would watch the same, lesser people smoke substances on terraces facing the golden sunset.

But neither of them ever thought they would end up together.

Gerri thought she would marry someone younger, someone with the body of a builder and the mind of an astrophysicist.

The reverse had never crossed her mind.

Now, here she was, in her later years, knowing in her heart that Mr. Right had passed her by and all that was left was a selection of Mr. … Read more

Buzz Out Loud 760: 100 penny challenge

We've offered more than 99 pennies in reward money as a challenge to the first person who can make some e-salt that will stop the snail robots from taking over our planet. Of course, running would probably also work as they are snails. Also Microsoft and Yahoo are fighting and we children don't like it. But Time Warner might. We also talk a little bit about some phone that's coming out this week. From Apple. I think it's called the over-hyped phone. Or iPhone. Or something.

Listen now: Download today's podcast Episode 760

Microsoft letter … Read more

Wall Street keeps cautious eye on Yahoo

Wall Street is largely keeping a cautious eye on Yahoo, despite Microsoft's announcement on Monday that it is interested in negotiating a possible buyout of Yahoo's search assets, or potentially making a renewed bid for the entire company.

Analysts, overall, still have a "hold" recommendation on the stock, according to Thomson Financial's survey of 34 financial analysts who follow the stock. Only one analyst has upgraded a recommendation on Yahoo in the past two weeks, raising it to a "hold" from a "sell" on June 25.

Nonetheless, Yahoo soared as high … Read more

Yahoo: We're ready to do deal with Microsoft

Yahoo was hit with a one-two punch Monday--first a right jab from Carl Icahn, which is calling for the removal of Yahoo's entire board, and then a left hook from Microsoft, which confirmed its support for Icahn's proxy fight and said it's interested in negotiating a deal with a "new" Yahoo board.

Microsoft, in its public statement, said it could see the value in a potential Yahoo deal, to either purchase the 'search' function with large financial guarantees, or alternatively, purchase the whole company--a been there, done that attempt with Yahoo's existing board.

Yahoo … Read more