Monday, September 22, 2008

Icahn takes his seat at Yahoo table

Yahoo's reconstituted board is expected to meet for the first time tomorrow, with activist member Carl Icahn committed to renewing the pressure for a deal with Microsoft.

Mr Icahn, the billionaire investor, and two allies were elected after Yahoo's annual meeting on August 1 in a deal that ended a proxy fight he had led to unseat the board.

"Yahoo is a really great company but I think they have to do something with Microsoft or Google is going to kill them," he told CNBC television on Friday.

However, his first chance to influence such decisions comes as Yahoo is about to begin an advertising deal with Google and Jerry Yang, chief executive, is scheduled to advance his strategy for a standalone Yahoo.

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