Published in News
Microsoft plots with Yahoo revolt
Microsoft agents have linked up with those plotting to overthrow Yahoo's board.
In a public statement yesterday, Microsoft said that if Yahoo shareholders cast off the yoke of its current board oppressors and storm the Bastille, it would join the revolution by buying the company. The news will give investor Carl Icahn, who is leading the revolt considerable power when he goes into the August 1 meeting to demand the board face the guillotine for its ham fisted handing of the Microsoft deal.
Icahn said that the he had been chatting to Microsoft CEO Steve Ballmer over the last week who was worried that the current board might try to destroy the company in the nine months that it would take to close any buyout deal. In an interview, Icahn argued that his proposed dissident board slate would make Microsoft feel more secure in risking a large sum of capital to complete the deal during the regulatory approval process.