The Wallstrip Blog

A new twist has occurred in the never-ending saga that is the Microsoft-Yahoo story. Carl Icahn, who owns a 5% stake of Yahoo! has just been given 3 spots on Yahoo!’s board. Yahoo! only did this to avoid a full out war (Icahn wanted to take over the entire board and oust Founder and Chief Exec Jerry Yang).

Icahn still thinks the Microsoft offer is a good thing. Maybe we’ll actually get those two kids together someday…maybe not.

Here’s more, from The Telegraph:

• Yahoo! has finally given in to pressure from activist investor Carl Icahn, just weeks ahead of the group’s annual meeting and granted him three seats on the company’s board.
• In a bid to avoid an all-out war for control of the board with Mr Icahn, the internet search engine plans to expand its board to 11 members. Current director Robert Kotick will step down following the group’s AGM, when Mr Icahn will join the board alongside two new members.
• Today, Mr Icahn said he was pleased with the “good outcome”. However, indicating that there could be further battles ahead, he said: “While I continue to believe that the sale of the whole company or the sale of its search business in the right transaction must be given full consideration, I share the view that Yahoo!’s valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to shareholders.”

Read the rest of the story here.