The Microhoo drama continues, but with a twist; Carl Icahn. The shrewd billionaire investor has threatened Yahoo! with a proxy fight.
Yahoo and Google have been pursuing a deal for a while now and could even be on the verge of making a formal announcement soon. And it might not be an accurate deadline, but Yahoo’s annual meeting is July 3, and one can see the wisdom of having something tangible and impressive to dangle in front of shareholders, many of whom might be angry with the collapse of the Microsoft deal and the minimum 73% premium ($33 vs. $19) it placed on the value of their company. Microsoft said Sunday that it was not thinking about acquiring Yahoo anymore (although it could if it wanted to in the future) but that it was talking to Yahoo about some kind of partnership.