Bulletin - Report: Icahn mulling Yahoo proxy fight

IDG News Service — Tue, 13 May 2008 13:57:08 -0700

Billionaire investor Carl Icahn is mulling a proxy fight against Yahoo's current board members in order to pressure the company to reestablish merger negotiations with Microsoft, The Wall Street Journal reported in its online edition Tuesday afternoon.

Icahn has bought as many as 50 million Yahoo shares since Microsoft walked away from the deal, The Journal reported, quoting an anonymous source familiar with the situation.

However, Microsoft hasn't indicated to Icahn that it would return to the negotiating table and Icahn hasn't decided whether he will go through with the proxy fight, according to The Journal.

Yahoo investors have until Thursday to nominate candidates to the board, whose 10 incumbent directors are all up for reelection this year when Yahoo holds its shareholders' meeting in July.

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