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Yahoo rebuffs Icahn, boasts profit generating deals

updated 12:35 am EDT, Thu June 5, 2008

Yahoo rebuffs Icahn

As aggravations rise over the controversial $2.1 billion severance plan, Yahoo insists that talks are ongoing with Microsoft, rebutting against criticism from investor Carl Icahn, who recently wrote Yahoo's chairman a disparaging letter. Yahoo highlighted its recent ad partnerships with Wal-Mart and several others, but president Susan Decker said that an arrangement with Microsoft could still occur. Icahn recently blasted the search giant, calling Yahoo's board "deceitful".

Yahoo also answered Icahn, stating that the billionaire has grossly misrepresented what happened, manipulating the facts to increase investor pressure on the company. Chairman Roy Bostock says in a reply to Icahn that he accuses Yahoo of turning down or sabotaging seemingly generous offers, but notes that he fails to provide any alternatives for the company to improve profitability.

Icahn is reportedly trying to assemble a proxy board for Yahoo, one with greater sympathies towards Microsoft, in order to enact plans for an ancillary deal with the Windows manufacturer.



By Electronista Staff
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Comments

  1. Feynman

    Forum Regular

    Joined: Aug 2006

    +2

    Go Yahoo Go!

    Fight back! I have much respect for Yahoo after reading this article. That's just awesome that Yahoo has big enough balls to write a letter to a m******** like Icahn!

  1. scotte75ky

    Fresh-Faced Recruit

    Joined: Jan 2008

    +2

    Thank Gawd

    I'm glad Yahoo responded in this way. Yahoo knows letting Microspft gain control of their company will surely be it's death.
    Yahoo's services far out weigh Microsoft anyway. there is no reason why they shouldn't be able to survive on their own.

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