analysis
All Things Digital Nov 28, 08 6:54 PM CST
(Newser)
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Corporate raider Carl Icahn bought about $65 million in Yahoo shares this week, sparking AllThingsD blogger Kara Swisher to speculate that an "Icahn-friendly" CEO is on the way. Icahn's purchase, likely an attempt to recoup the $900 million he lost on his Yahoo stake this year, points to two former executives Icahn brought to the Yahoo board as probable replacements for Jerry Yang, Swisher writes.
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Investors cashing out
in record numbers to meet obligations
Wall Street Journal Nov 7, 08 9:25 AM CST
(Newser)
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Hedge funds are increasingly to blame for the swooning Dow, the Wall Street Journal reports, as demands from investors to withdraw funds have sparked a securities selling frenzy in recent days. The rush to withdraw comes as investors—endowments and pension funds as well as wealthy individuals—see other investments shrink and need cash to cover their obligations.
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Buffett bumps Gates
in redrawn rankings
of world's wealthiest
Bloomberg Oct 10, 08 12:15 PM CDT
(Newser)
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The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as the richest American. Other losers and their losses:
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Time Warner anxious to decide on service's future
Financial Times (UK) Sep 24, 08 1:13 PM CDT
(Newser)
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A Yahoo board of directors now stocked with allies of activist investor Carl Icahn cleared the way yesterday for reigniting talks on combining with AOL, the Financial Times reports. Time Warner’s chief is eager to decide AOL’s future “fairly soon,” but is hoping Microsoft will join any deal. Icahn says Yahoo also has “to do something with Microsoft, or Google is going to kill them.”
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Offers 29% premium for biotech partner; shares soar
Wall Street Journal Jul 31, 08 1:21 PM CDT
(Newser)
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Already a 17% shareholder, Bristol-Myers Squibb laid down a $4.5 billion offer to buy the rest of ImClone shares, the Wall Street Journal reports. The $60-a-share offer, sent to ImClone chairman Carl Icahn today, is a 29% premium on yesterday's closing price and makes Bristol the second pharma giant to gun for its biotech partner in as many weeks.
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ANALYSIS
Iffy Q2 results make a deal, with Microsoft or Google, best option
BusinessWeek Jul 23, 08 12:09 PM CDT
(Newser)
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Yahoo’s earnings report yesterday didn’t portend an immediate turnaround, Catherine Holahan writes in BusinessWeek , meaning the company must do something to meet the “grandiose claims” it made in rejecting Microsoft’s bid. Some still see Yahoo ultimately taking that path, and expanding its deal with Google is another option that might justify Yahoo standing firm on its third-quarter and yearly forecasts.
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Activist investor gets seats for 2 allies
Wall Street Journal Jul 21, 08 7:27 AM CDT
(Newser)
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Yahoo will add two seats to its board of directors and put Carl Icahn in one of them, reports the Wall Street Journal, in a deal that ends Icahn’s proxy fight. Eight of Yahoo’s current board members, including CEO Jerry Yang, will keep their seats, while a ninth will resign. The board will select two members of Icahn’s proxy slate to fill his seat, and the newly created one.
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Link shows decline in businesses he's worked with
PC World Jul 19, 08 12:22 PM CDT
(Newser)
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A new button on Yahoo's homepage links users to the company's case against activist investor Carl Icahn, PC World reports. Icahn is seeking to unseat Yahoo's board at its Aug. 1 general meeting. The page links to voting forms and leaves shareholders in no doubt how the company thinks they should vote: A purple banner carries the Icahn quote, "It's hard to understand these technology companies."
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Says new offer was better, but still not in shareholders' interest
Wall Street Journal Jul 13, 08 6:20 AM CDT
(Newser)
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Yahoo has rejected another takeover push, this time from Microsoft and investor Carl Icahn, the Wall Street Journal reports. The bidders gave the Internet giant less than 24 hours to decide on an offer that would sell its search component to Microsoft and the rest of the company to Icahn in a move that would have required Yahoo to dump its current board.
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CEO accuses
Icahn-allied giant of pretending to want deal
Wall Street Journal Jul 9, 08 8:49 AM CDT
(Newser)
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Yahoo CEO Jerry Yang launched a fresh offensive in the Yahoo-Microsoft war of words yesterday, reports the Wall Street Journal . Microsoft has said it would be interested in reopening merger talks if Yahoo's current board was replaced—but the Yahoo co-founder accuses the company of tactics to destabilize Yahoo without any real interest in cutting a deal.
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Board must be replaced, Ballmer says
Wall Street Journal Jul 7, 08 10:04 AM CDT
(Newser)
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Carl Icahn says Microsoft is still in the hunt to acquire Yahoo, but only if the board is replaced, the Wall Street Journal reports. Icahn says Microsoft CEO Steve Ballmer “made it abundantly clear” to him that he wouldn’t talk with Yahoo’s current board, which he fears will run the company into the ground before antitrust authorities agree to a merger.
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Has been recruiting partners for another effort to vivisect Yahoo
Wall Street Journal Jul 2, 08 8:18 AM CDT
(Newser)
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Microsoft is back in pursuit of Yahoo, the Wall Street Journal reports, with the company in talks with both News Corp. and Time Warner as potential partners for a restructured deal to buy the search giant . Yahoo has been in Microsoft’s sights for nearly six months, but initial efforts to buy the entire company collapsed, and Microsoft has since been looking instead to acquire the search business and spin off the rest.
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Company gives take on negotiation as clock ticks on Icahn proxy fight
MarketWatch Jun 30, 08 4:34 PM CDT
(Newser)
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As it tries to fend off investor Carl Icahn's attempt to replace its board of directors, Yahoo today presented its version of buyout negotiations with Microsoft to shareholders, MarketWatch reports. Yahoo portrayed Microsoft as “unresponsive, inconsistent,” and loose on logistic details of the proposed merger. "The record casts doubt on whether Microsoft was ever committed to a whole company acquisition," its report said.
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Seeking to blunt attacks from Carl Icahn, the company goes to shareholders
MarketWatch Jun 26, 08 8:09 AM CDT
(Newser)
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Yahoo yesterday launched an offensive against billionaire Carl Icahn’s attempt to displace the board, detailing in a letter to shareholders why accepting Microsoft’s alternative $8-billion search-only deal would have diminished Yahoo’s value and hurt the company strategically, reports MarketWatch. CEO Jerry Yang and Chairman Roy Bostock said the proposal, in which Microsoft would have invested $8 billion in Yahoo, would have tied Yahoo to Microsoft for 10 years.
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