This is no fun at all. After months of stirring up trouble and headlines (and blog posts) proxy battler Carl Icahn will not be attending the Yahoo’s long anticipated annual shareholders meeting today. Per Icahn’s blog:
I will not be attending. The proxy fight is over and it will not do shareholders or Yahoo any good to have the annual meeting turn into a media event for no purpose.Ha! As if media events need a purpose, this is an election year after all. Ichan goes on to say that the reason he’s been on the DL these past two weeks is because he saw the writing on the wall and decided there was “no point in spending the final two weeks in a debilitating fight.”
Anyway, the end result is that Yahoo head Jerry Yang will be flying solo today when he faces shareholders, though with Icahn’s absence and a zero deal with Microsoft the mood feels a tiny bit more conciliatory than it did a few months ago, and certainly (sadly for us, we admit) will result in less fireworks. That’s not to say Yahoo doesn’t face a uphill battle, stock prices plunged after Yang turned down the Microsoft deal back in May, and have yet to recover.