Without making a fuss about it, Carl Icahn has piled up about 50 million shares of Yahoo!, about 3.6 percent of the company.
Now he’s going to make a fuss: Icahn plans to nominate as many as ten directors to the Yahoo! board in an effort to prod the company into accepting a takeover bid.
Notes Paul Kedrosky:
I’m not surprised. I went through Yahoo’s current board, asking myself who I would keep if I were Icahn ... and I couldn’t come up with anyone. It’s a faceless bunch who won’t be missed.
I doubt this will be the mother of all proxy fights, but it ought to be interesting.
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