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back to article Yahoo! hands Icahn board seat, ends battle

Yahoo! and Carl Icahn have agreed to settle their differences and call off their proxy battle for control of the company. Icahn had proposed an alternative slate of directors and called on shareholders to vote in his favour at a general meeting 1 August. The bazillionaire greenmailer wanted to take control of the board in order …

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Anonymous Coward

Do the shareholders vote on Icahn seat?

This is the worst of all worlds. Icahn will undermine Yahoo from the inside.

If the shareholders get to vote on this, they should kick him out. If not they should boot everyone.

He doesn't add value, he strips it.

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5 measly %

I cannot believe they gave in to that twat and all he has is 5 poxy percent.

Not that I care about the fate of yahoo! as I stoped using them years and years ago.

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Boffin

Icahn's 5%

5% places him in the same league as the founders in terms of % ownership. Basically, the interpretation in Silicon Valley is that Yang knew he'd lose the proxy battle. So he settled. An awful lot of shareholders didn’t like the fact that after Yang’s management had drifted the stock price down to $20, and the Microsoft offer almost doubled their money overnight, that Yang screwed the pooch due to his ego, which is why yahoo is back down in the $20 range. How happy would you be if our investment almost doubled overnight, but the management’s behavior re-tanked your investment?

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Gates Horns

new career prospects...

So if i send a load of abusive letters to Yahoo can i be on the board too?

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Anonymous Coward

@Icahn's 5%

"Basically, the interpretation in Silicon Valley is that Yang knew he'd lose the proxy battle. So he settled. "

And the shareholders? To hell with what SV thinks. I have Yahoo stock, I don't want that little sh*t on yahoo board. I wanted Yahoo to ride this tough time, an no price under $40, maybe higher when they recover. If I thought MS prospects were better I'd be holding MSFT stock instead.

I'm not happy here, Icahn would lose, the story he put forward was a joke, MSFT's offer was pennies. Now I reckon the whole board needs tossed to get rid of this leech.

/rant

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Re: Icahn's 5%

Maybe Yang figured that MS or Icahn were going to keep bleating about it and decided to do the same as Icahn: let the company die and sell off the rotting corpse before anyone noticed it starting to smell.

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@ac

So if i send a load of abusive letters to Yahoo can i be on the board too?

Sure if you come up with the cash to buy 5% of the shares

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Double Take Time

>valuable collection of assets positions it well to continue expanding its online leadership

Yahoo ? Expanding online leadership ?

I want what ever drugs hes been taking !

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Anonymous Coward

Yang...

Needs to go. He screwed the investors, he screwed the company and due to his ineptitude, Icahn was able to gorilla a seat for himself and several stooges on the board.

Any resembleance of the Yahoo! you all knew and came to love is about to vanish. It will turn into another farce, like the remainder of AOL, Compuserve, The Source and other such former giants.

Unless Yahoo has something really revolutionary hidden up its sleeve, that would blow everybody away and possibly make google miss a single step, I don't see them ever actually recovering from Jerry's fuck up, without completely whoring themselves to google. And while Yahoo has a few die hard fans, who still believe it is the greatest thing in internet history, fact is, there's not much Google needs from Yahoo. And I'm going to go out on a limb and say that IF google wanted to, and applied themselves, it might take maybe a month or two and any memory of "Yahoo!" would be gone.

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