Yahoo Round 2

Looks like Carl Icahn was not happy with the way things turned out for Yahoo in regard to the failed Microsoft acquisition. Apparently, he sent a letter yesterday to Yahoo’s Chairman, identifying “irresponsible and unconscionable actions” that led Microsoft to withdraw their offer. Apparently, he is going to snap up some additional shares of Yahoo and wage a proxy battle for an alternate board of directors. Geesh, doesn’t he have enough money? I didn’t really consider this option before. Perhaps Ballmer at Microsoft, rather than making himself look like the evil one mounting a hostile takeover, has convinced someone else to do it.

And, in other merger/acquisition news, CBS will buy CNET for $1.8 billion. CNET’s an online news and information provider, been around for a long time, the article calls them “an early pioneer in the Internet.” Let’s see how long it takes the old, behemoth media company to ruin them.

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1 Comment

  1. chirag155 said

    Don’t you think that from history we may learn that Microsoft, at the end, might be behind all this removing of directors move alongwith Carl Icahn. I wrote a piece on this at http://myfinancepage.wordpress.com/2008/05/20/yahoo/ and I surely believe that this yahoo deal looks more like fooling the public about the ‘reality’.

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