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September 5, 2008 3:05:23 AM CDT

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Yahoo Chair Hits Back at Icahn

Posted Jun 5, 08 9:38 AM CDT in Business,  Technology 

(Newser) – The chairman of Yahoo's board was quick to fire back at accusations leveled by Carl Icahn yesterday, reports the New York Times. An open letter from Roy Bostock to the corporate raider said Icahn's claim that Yahoo's board had sabotaged a Microhoo deal grossly distorted the board's position, and went on to trash Icahn's "puzzling" plans for Yahoo.

"Conspicuously absent from your letter is any credible plan for Yahoo other than a repetition of your insistence that the company should sell itself to Microsoft," Bostock wrote, emphasizing that the board had tried to do just that and Microsoft was no longer interested. With Yahoo's entire board up for re-election at its August 1 meeting, the war of words looks set to heat up.

Source New York Times

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The battle for Yahoo's board is heating up ahead of the company's general meeting, where Carl Icahn is aiming to unseat the entire board.   (Getty Images (by Event))
Investor Carl Icahn, seen here in a 2007 file photo, has accused Yahoo of putting a 'poison pill' mechanism in place to sabotage any bid from Microsoft.   (AP Photo/Mark Lennihan, file)
Yahoo chairman Roy Bostock, seen here in a 2004 file photo, has hit back at accusations leveled at Yahoo's board by activist investor Carl Icahn.   (Getty Images)
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Microsoft  • Yahoo  • Carl Icahn  • proxy battle  • takeover


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