Icahn launches proxy battle for control of Yahoo!

05/15/2008 | Reuters · Wall Street Journal, The

Investor Carl Icahn, who recently purchased 59 million Yahoo! shares, announced plans for a proxy fight to take control of the Web portal's board. In a letter to Yahoo! Chairman Roy Bostock, Icahn asserts that Yahoo!'s board of directors "has acted irrationally and lost the faith of shareholders." Icahn's proposed board includes such notables as Mark Cuban and Frank J. Biondi Jr.

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Reuters · Wall Street Journal, The

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