Icahn to put the bite on Yahoo board

The iconic activist investor Carl Icahn is reported to be buying stock so that he is in a position to oust Yahoo's board, possibly with the view of revitalising Microsoft's interest in buying the ailing company.

An Associated Press story quoted CNBC and The Wall Street Journal's reports that Icahn has accumulated about 50 million Yahoo shares, a stake of roughly 3.6%.

Recently Icahn was able to use his share holding to force Motorola to appoint his nominees to the board and agree to split the company up to realise value to shareholders.

Microsoft's CEO Steve Ballmer also threatened to get rid of board members during the abortive takeover bid, but in the end walked away from the fight, deeming it to be too damaging to both parties. The is no guarantee that Icahn's actions would change his mind.

 

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