Just when you thought it was safe to read the newspapers without mention of the Yahoo! and MSN merger it seems that things may be happening in the good old USA. It have been confirmed that MSN has teamed up with business man Carl Icahn who has a 5% stake in Yahoo! and believes it is time for change. Icahn has written to the shareholders and the board, advising them that he thinks it is time to take action and return value to shareholders.
Icahn is proposing to dismiss the whole Yahoo! board and enter back into talks with MSN with regards to either selling off the search engine business, or manufacturing a merger of the two ailing giants. While there has been little response from other major Yahoo! shareholders, Icahn has a reputation for making things happen. The board of Yahoo! have had ample time to arrange a deal with MSN and it seems that if not for the $2 extra they were asking from Microsoft we would already have seen the creation of a new giant.
Yahoo!'s days seem to be numbered although exactly how this situation will pan out is uncertain, but with Icahn now apparently calling the shots we are definitely due some action. |
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