From the ArcaMax Publishing, Business News Newsletter:
http://www.arcamax.com/news/businessnews/s-348274-367579
SUNNYVALE, Calif. (UPI) -- Billionaire Carl Icahn has nominated an
entire slate of candidates to unseat Yahoo! Inc.'s 10-member board of
directors, the activist investor said Wednesday.
In a letter to Yahoo! Chairman Roy Bostock, Icahn -- who has purchased
59 million Yahoo! shares since May 3 -- complained about Yahoo!'s
recent negotiations with Microsoft Corp, which offered to purchase
Yahoo! for $47 billion.
Yahoo! directors "acted irrationally and lost faith of shareholders,"
Icahn wrote to Bostock, The Wall Street Journal reported.
Ichan's nominees include himself, former Viacom Inc. Chief Executive
Officer Frank Biondi Jr., venture capitalist Adam Dell and Dallas
Mavericks owner Mark Cuban, the Journal reported.
Ichan's shares, which he purchased after Microsoft pulled away from
purchase negotiations, are valued at $1.5 billion, the Journal said.