Icahn Gives Yang More Headaches

As Barry Diller (I think) said at D last week – "Oh Icahn, he's just looking to make himself a few hundred million dollars." From the Journal: "It's no longer a mystery to me why Microsoft's offer isn't around," he said. "How can Yahoo keep saying they're willing to…

As Barry Diller (I think) said at D last week – “Oh Icahn, he’s just looking to make himself a few hundred million dollars.” From the Journal:

“It’s no longer a mystery to me why Microsoft’s offer isn’t around,” he said. “How can Yahoo keep saying they’re willing to negotiate and sell the company on the one hand, while at the same time they’re completely sabotaging the process without telling anyone.”

Mr. Icahn said he is convinced that executives of Microsoft, which withdrew its takeover offer last month for Yahoo, no longer trust Mr. Yang and won’t make a new bid — as Mr. Icahn and many investors are hoping for — unless Mr. Yang and the company’s board are ousted.

“I’m very cynical about many of the boards and CEO’s in this country, but even I am amazed at the lengths that the Jerry Yang and the board went to entrench themselves in this situation,” Mr. Icahn said.

Author: John Battelle

A founder of NewCo (current CEO), sovrn (Chair), Federated Media, Web 2 Summit, The Industry Standard, Wired. Author, investor, board member (Acxiom, Sovrn, NewCo), bike rider, yoga practitioner.

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