Will Icahn Bring Microhoo Back to Life?
ADOTAS – The boisterous billionaire Carl Icahn thinks he can (which means there’s a good chance he will) take control of Yahoo’s board and force it into talks with Microsoft again.
The activist shareholder has reportedly told associates that he bought about 50 million shares of Yahoo (worth a cool bill) as part of his plan to press for seats on the board. Other Yahoo investors, depressed by the state of affairs at the company, would likely welcome Icahn with open arms.
And the market is as jazzed about the prospect as he is, sending Yahoo’s shares up by 5% yesterday following a CNBC report of Icahn’s interest in the company. Today, shares were up to $26.94, or 1.47% as of 11:53 a.m.
Talks between the companies collapsed when Microsoft withdrew a $47.5 billion, or $33 a share, offer for Yahoo (an increase from its original $44.6 billion, or $31 a share) after Yahoo’s chief, Jerry Yang, said he wanted $37 a share.
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