Icahn Plans To Oust Yahoo’s Board…… Oooo! Scary!

Carl Icahn is ticked off with Yahoo’s board for not selling out accepting Microsoft’s takeover offer. So he’s launched a proxy battle to oust the board of directors:

“I believe that a combination between Microsoft and Yahoo is by far the most sensible path for both companies,”

Just to prove that he’s not blowing smoke, he’s dropped a BILLION DOLLARS on Yahoo stock and wants the FTC to give him the right to buy up to $2.5 billion worth of stock.

Basically, this means that Jerry Yang and his buddies on the board are likely screwed. Perhaps that’s why he was so anxious to talk to Microsoft after Steve Ballmer pulled their offer. Oh well, he can always cash out and retire rich seeing as he’s worth $2.3 billion.

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