Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Man Tries to Order Priciest Starbucks Drink Ever Total cost: $23.60 »

Yahoo Says Icahn Doesn't Understand Full Picture

Billionaire investor launches bid to oust board

By Kevin Spak,  Newser Staff

Posted May 15, 2008 9:28 PM CDT

(Newser) – Hours after Carl Icahn began his quest to take over Yahoo’s board, the company issued a statement saying he has a "significant misunderstanding" of the recent Microsoft purchase offer, the Wall Street Journal reports. Icahn wants to unseat the current Yahoo board, replace it with one of his own, and force the company to try to forge a deal with Microsoft.

Icahn's view "reflects a significant misunderstanding of the facts about the Microsoft proposal and the diligence with which our board evaluated and responded to that proposal," said Yahoo.

In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the World Business Forum in New York.
In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the World Business Forum in New York.   (AP Photo/Mark Lennihan, file)
In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the World Business Forum in New York.
In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the World Business Forum in New York.   (AP Photo/Mark Lennihan, file)
This April 30, 2008 file photo shows an  exterior view of Yahoo headquarters in Sunnyvale, Calif.
This April 30, 2008 file photo shows an exterior view of Yahoo headquarters in Sunnyvale, Calif.   (AP Photo/Paul Sakuma, File)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Google, Yahoo, 13 Others Declare War on Phishing

Yahoo Attracts Many Suitors, Weak Offers

Microsoft, Aol, Yahoo Agree to Sell Each Other's Ads

Google Looking to Buy Yahoo

Yahoo Founder Looking to Take Company Private


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne