Hedge-fund billionaire Carl Icahn, who has this week been given three seats on the board of Yahoo!, does not, it has been revealed, have a computer.
Microsoft chief Steve Ballmer said his company was still holding talks with Yahoo!, although no longer about efforts to take over the internet giant. Ballmer, speaking during a conference hosted by the <i>Wall Street Journal</i> on Tuesday, recalled that Microsoft had dropped its bid to buy Yahoo! after Yahoo! rejected its takeover offer.
The internet company Yahoo! has postponed its annual meeting as it grapples with the prospect of a shareholder rebellion in which as many as 30 candidates may try their luck in getting elected to its board of directors. A potentially rowdy gathering in California was due to be held on July 3 but Yahoo! has put it off to an unspecified date ”expected to be around the end of July 2008”.
Microsoft is not looking to bid to buy all of Yahoo! but is in talks about other types of deals with the United States number two search engine, Microsoft CEO Steve Ballmer said on Wednesday. Earlier this month, Microsoft walked away from a proposal to acquire Yahoo! for ,5-billion, or per share.
With Yahoo! facing pressure from a corporate raider, the internet giant has reopened discussions on a tie-up with Microsoft, but for a new deal that would probably not be an outright takeover. The two firms said over the weekend that they were exploring new options two weeks after Microsoft withdrew its offer to acquire the struggling internet pioneer.
Billionaire investor Carl Icahn is considering mounting a proxy campaign to replace Yahoo! board members after the company failed to reach a deal to merge with Microsoft. The veteran investor has built up a stake in Yahoo! in the last week and would run a slate in an effort to force the company back to the negotiating table.