Yahoo Proxy Battle Commences

Yahoo Proxy Battle Commences

When we wrote about Microsoft giving up on Yahoo for now we knew, as well as anyone following the saga, that it was merely the end of chapter one. The bell has rung and round two of the saga has now commenced with billionaire investor Carl Icahn announcing in a letter to the chairman of Yahoo, Roy Bostock, that he has purchased 59 million shares in the company and formed a 10 member set of rivals for the Yahoo board of directors. Further to this he has applied for clearance from the U.S. Federal Trade Commission to avoid any antitrust issues as he aims to purchase up to $2.5 billion in Yahoo stock.

We will continue to post updates on the drama.

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