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Yahoo Launches Web Site to Take on Icahn

Friday, July 18, 2008
By bMighty.com Staff

Hoping to make its case to stockholders, Yahoo has launched a Web site that explains why investor Carl Icahn's plan to replace its board with his own hand-picked slate "is not the right answer" for the search company.

From the Web site, which is promoted on Yahoo's home page: "The choice for Yahoo! stockholders is clear: re-elect your experienced and dedicated Board with a clear strategy and a demonstrated commitment to create value for Yahoo! stockholders, or turn your Company and its uniquely valuable combination of assets over to Carl Icahn and his nominees and allow Microsoft and Mr. Icahn to dismantle the Company and deliver our search business to Microsoft on terms that would be disadvantageous to Yahoo! stockholders."

The site includes a link where shareholders can vote -- the votes will be tallied at Yahoo's Aug. 1 shareholder meeting -- as well as a list showing the declining stock value of several companies in which Icahn has become involved.

Icahn launched his proxy fight two months ago after the possibility of Yahoo's merging with Microsoft fell through.

Source(s): CNET

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