Search Results for: \"carl icahn\"

Yahoo Says “No” to Carl Icahn’s Board Demand

Carl Icahn is a powerful and extremely rich man. Companies that count him as a shareholder likely quake in their boots anytime he has something to say. However, Yahoo’s board is not impressed with Icahn’s threats to replace the board members with a selection of his own.

In their public reply to Icahn, Yahoo’s Chairman of the Board Roy Bostock pretty much tells him to go take a long walk off a short pier.

A fair-minded review of the factual record leads to one conclusion: that Yahoo!’s ten-member board, comprised of nine independent directors along with Yahoo! CEO Jerry Yang, remains the best and most qualified group to maximize value for all Yahoo! stockholders.

Icahn Sells Off (Some) Yahoo

icahnRemember all the drama between Carl Icahn and Yahoo last year? As a major shareholder, he lobbied for Yahoo to take Microsoft’s buyout offer (any offer!). And then there were some I’ll-replace-your-whole-board-of-directors threats, and some nuh uhs. And some I’ll-get-you-yet,-Yang!s and some “what-ever”s and some pbbbts and “You’re nuts”s. . . . Yeah, for a while there it was a little ugly. Eventually, Yahoo tried to placate Icahn with a luxurious spot on their board for him and two of his closest friends!

But it looks like even that wasn’t enough to keep Icahn happy for long. AllThingsD reports today that Carl Icahn has recently sold off a sixth of his shares in Yahoo at a significant loss—$125M. Although he retains his and his cronies’ seats on the board, and 63M shares (about 4.5% of the company), taking that kind of loss doesn’t look so good for Yahoo.

Yahoo Responds to Icahn: No You Cahn’t

As if things aren’t already nasty enough for Yahoo these days, this week, lawsuits and allegations abound that Yahoo’s spurning of Microsoft’s offer earlier this year was motivated by personal biases. Yahoo has responded to the most vocal (and likely most powerful) of their detractors, Carl Icahn, in a letter by Chairman Roy Bostock.

Icahn, a large shareholder of Yahoo, has already already attempted to file a proxy slate to replace the whole board, although his efforts have been rebuffed thus far.

Yahoo continues to resist Icahn’s hostile advances this week. Bostock begins the letter by stating that the board takes issue with Icahn’s June 4 letter and accusations: “Your letter seriously misrepresents and manipulates the facts regarding the recent events pertaining to Microsoft and Yahoo!” (It’s nice to have a company name with an exclamation point; it makes your points more emphatic without the tackiness of all caps ;) .)

Icahn, Shareholders Want Yang Out of Yahoo

Two strikes against Yahoo chief Jerry Yang: there appears to be a growing movement to take him out of the top position at Yahoo.

Carl Icahn, who received approval to purchase more Yahoo shares last week, already attempted to file a proxy slate to replace the whole board, which would have included ousting Yang. Although his efforts have been rebuffed thus far, Icahn continues to fight the good fight, according to the Wall Street Journal today.

Mr. Icahn . . . said in an interview that he will seek to remove Mr. Yang if his effort is successful. In the next day, Mr. Icahn said, he plans to make a public statement highlighting his concerns about the actions of Mr. Yang and the board.

Carl Icahn Invests in Mobile Content Provider Motricity

Motricity, a mobile content and services company based in Durham, N.C.,  has announced a $50 million round of equity funding from serial investor Carl Icahn.

Being a company local to me, I’m glad to see them growing and getting some working capital. but I’m sure they’re well aware that Icahn is not always an investor that likes the status quo.

Icahn Haz Yahoo! Board

By Sean Maguire

Standing strong at number 24 on Forbes list of the 400 Richest Americans, with a cool $8.7 Billion to his name, Carl Icahn can haz lots of cheezburgerz! Guess what? He wants more.

Oh, the intrigue; the recent breathtaking game of “Deal or No Deal” between Microsoft and Yahoo. Unless you’ve been rafting down the Bolivian mountains’ Tuichi River for the last three months, you’re well aware of Jerry Yang and Co’s, repeated rejections of Microsoft’s increasingly generous overtures. The last one being a lofty (cough cough) – $33.00/share or $47.5 Billion dollars! This represented a full 70% premium over Yahoo’s closing price of $19.18 on January 31. With Microsoft CEO, Steve Ballmer playing the role of Howie Mandel, Yang sent two of his yings to politely tell him “No Deal Stevie…No Deal”!

Keep Your Eye on the Yahoo, WPP Ad Partnership; Ignore Carl Icahn

Do you know how illusionists make that cute bunny disappear? They distract your eyes with something else, so you don’t notice what’s going on.

Cue Yahoo “Copperfield” with its attempt to make Carl Icahn disappear by distracting you with the good news about a partnership it just formed with mega-ad agency WPP.

In a statement, the companies said that as part of the deal, WPP advertising agencies would, through its 24/7 Real Media arm, develop a proprietary advertising media trading platform that takes advantage of Yahoo’s Right Media exchange.

In addition, WPP will work with Yahoo to create a WPP marketplace giving its ad agencies a new place to spend their client’s ad budgets.