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 5/10 Good --- feeds.portfolio.com http://feeds.portfolio.com/portfolio/top5
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Thursday, May 15, 2008 --- 70 days ago http://www.portfolio.com/news-markets/top-5/2008/05/14/Icahns-Designs-on-Yahoo?r
| With less than a 4 percent stake, Carl Icahn does not have much leverage over Yahoo . And with less than two days to field a slate of candidates—or even a couple of token candidates—for Yahoo's board, he has very little time. But his potential is huge and his timing is almost perfect. With big Yahoo shareholders like Bill Miller and Gordon Crawford still fuming about Jerry Yang's giving the cold shoulder to Steve Ballmer, Icahn can easily depend on at least 15 percent of Yahoo' shareholders, notes Jeff Segal at Breakingviews.com. The Wall Street Journal reports that Scott Galloway, fresh from a victorious campaign to get seats on the board of the New York Times Co., may also get involved with Icahn. Kara Swisher at All Things Digital has seen this movie before, saying : "Icahn's efforts seem clever, using similar tactics as he did in the BEA Systems-Oracle fight, trying to get just a few board seats to force Yahoo to sell to Microsoft." But is that even possible? Andrew Ross Sorkin and Miguel Helft of the New York Times report that Icahn has made back-channel inquiries about whether Microsoft could be persuaded to return to the table. "He has received little encouragement," the Times said, because Microsoft has "moved on." On Tuesday, shares of Yahoo rose more than 5 percent on speculation that Icahn, an activist investor with a long history of proxy fights, could mount a challenge to Yahoo. The deadline to ... |
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