Shareholder Carl Icahn tries to force Yahoo! to accept Microsoft bid
Carl Icahn, the billionaire activist investor, has launched a boardroom coup against Yahoo!, threatening to oust its founder and seeking to force the online search engine to accept a $47 billion (Ã‚Â£24.1 billion) offer from Microsoft.
Mr Icahn, who has built a career taking stakes in companies whose share price is weak, and threatening them to compel a change of strategy, has spent $1 billion acquiring a 4 per cent stake in Yahoo! in the past few weeks and has nominated ten directors to the internet companyÃ¢â‚¬â„¢s board.
He is also seeking regulatory permission to more than double his stake to boost his chances of forcing Yahoo! to yield to his demands.
Full article: timesonline.co.uk