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Member Since: 1/2006Last Seen: 11/28/2009
Member Since: 1/2006Last Seen: 11/28/2009
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Yahoo rebuffs plan to oust board
News Type: Event — Seeded on Sat May 17, 2008 10:46 PM EDT
Article Source: BBC Newsadvertisement
Yahoo has rebuffed billionaire investor Carl Icahn's plan to oust the current board of the net portal.
Mr Icahn is amassing a stake in Yahoo in an attempt to force out the current board over its handling of a failed merger deal with Microsoft.
Mr Icahn backed the bid by Microsoft to buy Yahoo, which directors rejected.
Yahoo chairman Roy Bostock has written to Mr Icahn saying it was not in shareholders' interest to allow him and his "handpicked nominees" to take over.
Mr Bostock also criticised efforts to use the board fight to as a way to "force a sale of Yahoo to a formerly interested buyer".
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 | Icahn Plans Challenge To Yahoo Leadership | The Washington Post | Thu May 15 | 0 |
 | Icahn to Yahoo board: Sell to Microsoft or leave | Associated Press | Tue May 13 | 0 |
| Microsoft and Yahoo re-enter talks | CNET News.com | Sun May 18 | 0 |
| Microsoft puts new Yahoo deal on the table | thestandard.com | Mon May 19 | 0 |
| Now Microsoft Wants To Partner with Yahoo on Searches | newsfactor.com | Mon May 19 | 0 |
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