Analysts Doubt Icahn's Proxy Prospects

Investor's attempt to force Yahoo sale could seriously hurt its value
By Sam Gale Rosen,  Newser Staff
Posted May 14, 2008 2:51 PM CDT
In this Jan. 7, 2008 file photo of Yahoo CEO Jerry Yang giving a keynote address at the Consumer Electronics Show (CES) in Las Vegas.   (AP Photo/Paul Sakuma, file)
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(Newser) – Analysts are doubtful financier Carl Icahn could successfully force Yahoo back to the table with Microsoft after taking a stake in the search giant, MarketWatch reports. "A successful proxy battle is a bit like a scorched earth policy,' one analyst says. " You may win the battle but what you ultimately win will be so damaged that it wasn't worth fighting for."

"We believe this is why Microsoft didn't pursue a proxy battle, and we don't think the software giant's view will change with Carl Icahn doing the dirty work," the analyst added.