Oilman Pickens Throws in With Icahn in Fight to Control Yahoo

'I'll jump in with Carl' on proxy issue, he says
By Jim O'Neill,  Newser User
Posted May 21, 2008 7:59 AM CDT
Yahoo CEO Jerry Yang.   (AP Photo/Paul Sakuma, file)
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(Newser) – Carl Icahn's proxy bid to replace Yahoo’s board won the backing of legendary oilman T. Boone Pickens yesterday, reports the Wall Street Journal, but without a firm offer from Microsoft to acquire Yahoo the effort could still struggle. "I'll jump in with Carl. He goes in first, I jump in behind him," Pickens told CNBC.

Icahn also has other backing, but Yahoo doesn’t believe he has enough votes to override co-founders Jerry Yang and David Filo's 10% of shares and shareholder support. Microsoft meanwhile, says it no longer wants Yahoo, just parts of it, reports Reuters. “We are not bidding to buy Yahoo,” said CEO Steve Ballmer.