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Yahoo settles with Icahn to avert shareholder fight

Discussion in 'News' started by Echo419, July 21, 2008.

  1. Echo419

    Echo419 FS Owner

    Yahoo Inc. is relinquishing three seats on its board of directors to activist investor Carl Icahn, ending a battle for control of the Internet company while still leaving the door open for a possible sale to Microsoft Corp.

    The truce announced Monday gives Yahoo a reprieve from two months of bickering with Icahn, who had been spearheading a shareholder rebellion aimed at replacing the company's entire board in retaliation for its rejection of Microsoft's $47.5 billion takeover bid in early May.

    [​IMG] View Full Article: Yahoo News - AP
     

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