WSJ: Carl Icahn plans to seek removal of Jerry Yang
June 4th, 2008 Leave a comment Visited 29 times, 1 so far today
WSJ: Carl Icahn plans to seek removal of Jerry Yang
Wall Street Journal has reported that Billionaire investor Carl Icahn is planning to seek the removal of Jerry Yang as the CEO of Yahoo if he manages to win the proxy battle against the company.
Icahn is trying to replace the board of the company with his own nominated members.
He is blaming the company for losing a lucrative deal offered by Microsoft which he claims would have been good for Yahoo and its investors.
WSJ quoted Icahn as saying: “It’s no longer a mystery to me why Microsoft’s offer isn’t around. How can Yahoo keep saying they’re willing to negotiate and sell the company on the one hand, while at the same time they’re completely sabotaging the process without telling anyone?”
Courts released some documents which proved that Yahoo had been working behind the scene to make problems for Microsoft in case they managed to acquire the company.
The policies introduced by the company during that period would have added the acquisition cost of Microsoft by as much as USD 1-2 billion.
Carl Icahn, Jerry Yang, Market Rumors, Microsoft, Wall Street Journal, Yahoo
Somanshu
Category: News
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