Icahn says CEO of Yahoo has to go
Icahn is centered his comments on the Elimination of Yahoo in the Board of Directors, of which Ian is one of nine members who are elected for a one-year term, the next annual meeting is held.
Icahn obviously irate over the recently released details of the shareholders lawsuit unsealed Monday, according to the Journal. In the amended lawsuit by two Detroit pension funds, Jan is portrayed as an architect of controversial labour officer program, which will happen if Yahoo undergoes a change in control.
The change in control applies not only buyout, like Microsoft is one of the table before it withdrew its 33 U.S. dollars bid for Yahoo share on May 3, but also a change in control of a majority of Yahoo in the management board, as noted in CNET News.com blog.
"It is no longer secret to me why Microsoft's offer is not super," Icahn said in his interview Journal. "How can Yahoo say they willing to negotiate and sell the company on the one hand, while they are completely sabotaging the process without anyone."
Icahn believes he noted in the lawsuit unsealed shareholders will support his efforts to win a proxy fight to unseat Yahoo on board, especially given their belief that investors will fear Microsoft will not return to the buyout proposal to Jan and current board have passed.
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