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Yahoo, Icahn settle to avoid showdown

Posted on: Mon, 07/21/2008 - 15:52
Yahoo, Icahn settle to avoid showdown

Yahoo and Carl Icahn this morning announced they had settled their dispute over the makeup of the company's board, striking a compromise that will give the dissident investor and his allies three of the board's 11 seats.

The move ends a showdown that had been slated for Yahoo's annual meeting Aug. 1, when shareholders would have voted on a rival slate of board members proposed by Icahn. He had vowed to pursue a sale of Yahoo to Microsoft. Under the agreement, Yahoo co-founder Jerry Yang will remain chief executive and Roy Bostock will remain board chairman.

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Posted on: Mon, 07/21/2008 - 15:56 #1
Icahn also praised the

Icahn also praised the compromise, which will put him on an expanded 11-member board, along with two others from a pool of nine that he will recommend. In a written statement released by Yahoo, Icahn said:

I am very pleased that this settlement will allow me to work in partnership with Yahoo's board and management team to help the company achieve its full potential. While I continue to believe that the sale of the whole company or the sale of its search business in the right transaction must be given full consideration, I share the view that Yahoo's valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to stockholders.

Posted on: Sun, 10/25/2009 - 04:05 #2
good things happen

That's great news. Both parties should meet halfway.