Is Carl Icahn Behind Yahoo’s New Talks with AOL?
How about a little game of Jeopardy? Here’s your "Mergers & Acquisitions" question for $500.
"He owns shares in Time Warner, was just named to the Yahoo board (along with two cohorts) and appears to be behind a new talks with Time Warner’s AOL unit."
If you answered "Who is Carl Icahn?" then you and I are on the same page.
The eternal disrupter, Carl Icahn’s rear end is barely warming his seat on Yahoo’s board, and we’re already seeing reports that the company is once again interested in negotiating with AOL.
The green light for the talks came as Yahoo’s directors met for the first time since activist investor Carl Icahn was granted access to the boardroom. Mr Icahn and two allies, former Viacom (NYSE:VIA.B) boss Frank Biondi and former Nextel head Frank Chapple, were given seats at the board table as part of a settlement to head off a revolt at the internet company’s last shareholder meeting.
According to one person familiar with the company’s thinking, the Yahoo board approved a new round of discussions with AOL, though active deal negotiations are not underway at this stage.
OK, seriously. Did anyone NOT see that coming?
PS. And in case that doesn’t work out, Yahoo is apparently exploring the sell-off of some of its more valuable assets. Hmm, smells like Icahn’s handy-work as well!