Icahn Could Oust Yahoo Board


The Associated Press reports that billionaire investor Carl Icahn is reportedly loading up on Yahoo’s stock in preparation for a possible attempt to shove aside the Internet icon’s board and bring the company’s disillusioned suitor, Microsoft Corp., back to the bargaining table:

“As he mulls whether to lead a rebellion, Icahn has accumulated about 50 million Yahoo shares, a stake of roughly 3.6 percent in the Sunnyvale-based company, both CNBC and The Wall Street Journal reported Tuesday. Both media outlets cited unnamed people familiar with the matter.”

Neither side is commenting yet, but the report mentioned that this fits in with Icahn’s usual strategy of swooping in and accumulating big stakes in companies that have let down their shareholders, including a certain troubled cell phone company.