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Veteran Billionaire investor, Carl Icahn is planning to run a proxy campaign to elect new board members at Yahoo Incorporation. The move of Icahn comes shortly after the company failed to forge a deal to merge with Microsoft Corporation. According to a source, the billionaire investor has built up a stake in Yahoo in the last week and would run a slate in an effort to force the company back to the negotiating table with Microsoft Corporation.
A leading international newspaper claims that Icahn has amassed stake of roughly 50 million shares or roughly less than 4 percent of the company. Marc Weingarten, an attorney with Schulte Roth & Zabel remarked that Yahoo has lot of unhappy shareholders and if someone could press the company in getting something done then there are decent chances of a transaction.
Last year Icahn had been successful in getting Oracle Corp (ORCL.O) to return to the bargaining table to buy BEA Systems after the talks had collapsed between the two.
Last year Icahn had been successful in getting Oracle Corp (ORCL.O) to return to the bargaining table to buy BEA Systems after the talks had collapsed between the two.
