Icahn after all the fireworks and discontent with Yang and the rest of the Yahoo Board has now officially taken in as a member of the board.
The billionaire had tried everything to pull the leg of Yahoo founder, Jerry Yang and teaming up with Microsoft to force a total buyout of Yahoo but the old man lost it given Yahoo’s efforts at winning over the shareholders (we know how the tally had reported wrongly at this). This also forced Icahn into compromise with Yahoo just before the shareholders meeting (which he didn’t attend). All that been done, Yahoo has confirmed Icahn’s inclusion in the board and all that is to follow is for Icahn to select two of his allies. The announcement is set to be made by August 15 as reported by Stephen Shankland.
Yahoo has been the most regular at holding meetings ever since Microsoft’s failed attempts to buy Yahoo (that after all the drama ended in a no deal, for the time being) to the shareholders meeting last Friday. Yahoo is still hammered with growing pressure from the shareholders and all this could weigh in favor of Icahn who can tip the shareholder’s interest against the present board in case Yahoo fails to fulfill Jerry Yang’s optimistic view of Yahoo’s future.
Icahn had changed from the venom spitting, anti-Yang self to the calling Roy Bostock and Yang ‘gentleman’ and that the present compromise is seen by him ‘as a beginning of a beautiful friendship’. How beautiful it really is will be seen in time and the moment these ‘gentlemen’ fail to deliver what is expected from them.
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