Yahoo Nominates Icahn to Board, Settles Proxy Fight
If you can’t beat ’em, manipulate ’em. Reuters is reporting that Yahoo will appoint billionaire investor Carl Icahn and two of his nominees to its board, which will settle a proxy battle and make any deal with Microsoft less likely in the immediate future.
The current board was concerned that aside from a sale to Microsoft, Icahn didn’t appear to have any further concrete plans to turn Yahoo around. So this compromise should mean that for now, instead of Icahn replacing the entire current board, the two sides will join together in some way.
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