July 17th, 2008
Yahoo: Icahn just a short-termer
Yahoo once again delivered another shareholder letter Thursday designed to urge shareholders to vote for its board members at its Aug. 1 annual meeting. Yahoo’s message: Billionaire investor Carl Icahn only has short-term interest n the company.
In Yahoo Chairman’s Roy Bostock’s letter the company outlined the following:
- Icahn’s average cost per Yahoo share is under $25 and he just wants to cut any deal he can to recover his money back quickly.
- Icahn is operating from a position of weakness by hopping in bed with Microsoft so quickly.
- Icahn can’t make up his mind about what will work for Yahoo. Is it a Google search pact or Microsoft?
We’ve heard a lot of this before, but the banter between Yahoo and Microsoft-Icahn is expected to heat up. Yahoo argued that both Icahn and Microsoft flip flop and reiterated that it will sell the whole company “for $33 per share or more if Microsoft will negotiate a transaction that delivers certainty of value and certainty of closing.”
You can expect Icahn’s dear shareholder letter shortly. It might be time for a good JibJab spoof on this issue.
Larry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.
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