icahn

It's time for Jerry Yang to step aside

It's time for Jerry Yang to step aside. I know Jerry probably doesn't want to hear that and it's difficult for the Yahoo faithful to come to that realization, but there isn't any other option available to him.

In the past 24 hours alone, we've discovered that Microsoft and Carl Icahn have been chatting it up on numerous occasions; both Ballmer and Icahn want Yang gone; and Icahn is a firm believer that the only way to fix Yahoo is to sell it Microsoft. All the while, we haven't heard anything from Jerry Yang and company and the employees are left wondering what's happening to their employer.

Of course, the answer is quite simple: it's being torn apart by a greedy and jealous CEO who looks like he has no regard for his shareholders, while another force, Carl Icahn, is showing his own greed and trying desperately to get out from under this albatross with some sort of financial gain.

But in the end, the writing on the wall is suddenly so clear: Yahoo needs to go to Microsoft as soon as possible and Jerry Yang and the rest of his cronies on the board need to be ousted just as quickly. And whether he wants to believe it or not, it better happen before the August 1 board meeting.… Read more

Icahn and Ballmer plot Yahoo overthrow

On June 27, Microsoft Chairman Bill Gates said he didn't think that his company and Yahoo would make a deal, adding that Microsoft CEO Steve Ballmer will find "plenty of other opportunities.

Not so fast. As Yahoo's quarterly earnings come up on July 22 (see Kara Swisher's take on the upcoming financial results) and the shareholder meeting on August 1, Carl Icahn and Steve Ballmer are teaming up to remake Yahoo's board of directors and shelve Yahoo CEO Jerry Yang. In a letter to Yahoo shareholders, Icahn said:

Steve (Ballmer) made it clear to me … Read more

Icahn letter outlines Microsoft's support

Investor activist Carl Icahn on Monday announced that Microsoft is supporting his proxy battle efforts to unseat Yahoo's board, with the software giant indicating that it is willing to negotiate a potential deal to acquire the company or its search assets with a new board.

Although Icahn and Microsoft acknowledge that there can be no guarantees that a Yahoo buyout or sale of its search assets will occur, if Icahn wins his proxy fight, the search pioneer's stock price is soaring on the Microsoft-Icahn news.

Here is a copy of Icahn's letter:

Dear Yahoo shareholders:

During the … Read more

Microsoft letter backs Icahn, renews Yahoo focus

Microsoft on Monday released a letter in support of activist investor Carl Icahn's efforts to unseat Yahoo's board, as well as confirming its interest to explore a bid to buy the entire company--or just its search assets, with a new board.

Here is Microsoft's letter:

In the past week, we have had the opportunity to discuss with Carl Icahn the prospects for a possible agreement between Microsoft and Yahoo.

Despite working since January 31 of this year, as well as in the early part of last year, we have never been able to reach an agreement in … Read more

Icahn, Microsoft team up for action on Yahoo

Update at 3:49 p.m. PDT, with closing stock price and timing of when Icahn expects to file his definitive proxy.

Investor activist Carl Icahn and Microsoft on Monday asked Yahoo investors to oust Yahoo's board and in its place elect Icahn's dissident slate, potentially paving the way for a purchase of the Internet company in its entirety or just its search assets.

Here is part a statement from Icahn, who is running a dissident slate of directors to unseat Yahoo's entire board, that cites discussions with Microsoft CEO Steve Ballmer:

Steve made it clear to … Read more

Yahoo and Microsoft making the rounds with old lovers?

A bit of deja vu is creeping into recent media reports of Microsoft whispering into the right ear of News Corp. and Time Warner's AOL about potential partnerships, while Yahoo is whispering in their left.

According to a Reuters report, Yahoo and Time Warner have been chatting for months about a potential deal involving Time Warner's AOL and Yahoo. The report, however, notes that the parties don't appear any closer to inking a deal than they were when Microsoft had a buyout bid on the table for the Internet search pioneer.

Meanwhile, the Wall Street Journal is … Read more

Microsoft said seeking partners for new Yahoo bid

In the ever-rotating, but never stopping merry-go-round that is Microhoogle, the Wall Street Journal reported Tuesday night that Microsoft has been looking for partners in recent days that would help it make a new bid for Yahoo's search business.

The newspaper, suggests though, that because Microsoft canceled a scheduled meeting with Chairman Roy Bostock on Monday, that perhaps it is not finding any willing compatriots for a Yahoo move.

The paper also reports that Microsoft has met with Carl Icahn in recent days, urging the billionaire to keep pressing his proxy fight in an effort to motivate Yahoo's … Read more

Yahoo shares touching on pre-Microsoft level

Update at 3:26 p.m. PDT, with analysts comments

Yahoo shares fell below $20 on Tuesday, coming within a breath away from its previous trading level before Microsoft launched its failed buyout attempt five months ago.

Shares of Yahoo, which have been on a steep decline since the company announced on June 12 that Microsoft was no longer interested in buying the company and that a partial sale of its search business to the software giant did not make sense for Yahoo, dropped as much as 5.2 percent in intraday trading to $19.59 a share, before recovering … Read more

Yahoo unveils timeline of failed Microsoft talks

Updated at 3:54 p.m. PDT with comments from institutional investor advisory services analyst on Yahoo's investor presentation materials.

Yahoo published on Monday its version of the details of the failed merger talks with Microsoft, as the Internet pioneer heads toward the frontlines of its proxy battle with investor activist Carl Icahn.

Yahoo, which wants its current nine-member board to be re-elected at its annual shareholders meeting on August 1 and is up against Icahn's dissident directors slate, is hoping to woo investors in its direction with a presentation filed with Securities and Exchange Commission.

The presentation … Read more

Icahn aims for Yahoo fireworks before July 4

Update 1 p.m. PDT, with more information on the timing of Icahn's definitive proxy and alternatives.

Investor activist Carl Icahn is expected to file his definitive proxy by July 4, signaling whether he will ultimately run a dissident slate of directors to unseat a majority of Yahoo's nine board members, or look to oust just a few, according to sources familiar with the billionaire investor.

Icahn is gearing up to share another round on his "views about Yahoo and its management shortly," according to a posting on his Icahn Report blog Friday.

Icahn, who filed another preliminary proxy just the other day, … Read more