The technological era

Chuan billionaire Icahn Yahoo will launch the battle for the right agent

Posted on May 14th, 2008 in Internet news yahoo

- The May 14, according to foreign media reports, sources said Tuesday, the U.S. billionaire, the radical investors Kaeryikan (Carl Icahn) has acquired some shares in Yahoo, and we intend to launch the battle for the right agent , The replacement of at least part of Yahoo's directors.

Icahn堪称is the "capital of the big players in the playground," had previously to Motorola, Time Warner Inc. and BEA Systems and other companies of the board and management, "Bi Gong." According to sources, since Microsoft's May 3 to give up on Yahoo's acquisition, he bought about 50 million Yahoo shares, equivalent to less than 4 percent of Yahoo shares.

Icahn to determine whether the three will be launched this week against Yahoo's board of directors of the battle for the right agent, because this week is the four candidates nominated director of Yahoo's deadline. However, he has not yet been received from Microsoft to reconsider the acquisition of Yahoo's guarantee. According to informed sources, whether Icahn will nominate all of Yahoo's directors, or in part, he has not yet been determined. In July 3 at the 2008 Yahoo shareholders meeting, the shareholders of all the directors will vote on the candidates.

Affected by this news, Yahoo shares rose Tuesday on the Nasdaq 1.30 U.S. dollars to close at 26.56 U.S. dollars, or 5.15 percent. So far, Icahn's spokesman was not immediately available for comment. Other radical hedge fund managers also aim at Yahoo, are considering whether to participate in Yahoo's board of directors for the proxy battle. For example, there is news that investment companies Firebrand Partners LLC founder Scott Galloway (Scott Galloway) on the assessment of the current situation, the agent may be involved in the battle for the right. However, Galloway has not been together with Icahn.

These radical investors will be treated as a new target Yahoo, Microsoft is an important reason for the acquisition may re-submit the request, thus they are able to sell premium Yahoo stock. January 31 this year, Microsoft submitted to the Board of Yahoo offer that to 31 U.S. dollars per share in cash and stock acquisition of Yahoo all of the shares. Yahoo subsequently rejected the request that Microsoft seriously underestimated the company's value. After the contact for several months, Microsoft and Yahoo are still unable to reach agreement on price, only to give up the final purchase.

Since Microsoft to abandon the acquisition, a number of Yahoo shareholders to put pressure on the Board of Trustees, and Microsoft hope to resume the negotiations. According to sources, some of Yahoo's largest shareholder has recently made contact with Icahn, who called for intervention Yahoo. But at least so far, Microsoft has yet to consider the restart of the Yahoo acquisition. Microsoft spokesman declined to comment.

A Yahoo's source said that Yahoo's management and not too worried about the proxy battle, because they believe that the opposition can not get enough support for the shares. Yahoo co-founder Jerry Yang and David Filo (David Filo) holding company nearly 10 percent of the shares. Yahoo spokeswoman declined to comment. (Meng Fan)