fight

Editors' note: This post was updated Friday, May 16, at 5:50 a.m. to include a letter sent to Yahoo executives concerning the proxy fight. The letters have been edited for readability.

With billionaire investor Carl Icahn launching a proxy fight Thursday to unseat Yahoo's board of directors, Yahoo CEO Jerry Yang issued a letter to employees, as the Internet pioneer gears up for battle.

This letter is likely to be the first in a string, as the proxy fight heats up at a rapid pace. Yahoo's shareholder meeting is less than two months away.

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To: All … Read more

A major Yahoo investor weighed in late Wednesday with support for Carl Icahn's initiative to unseat Yahoo's board, signaling yet another salvo to be fired in the coming weeks as the proxy fight between Icahn and Yahoo heats up.

Paulson & Co., which owns 50 million Yahoo shares as of March 31, issued a statement saying it was disappointed that Yahoo failed to reach an agreement with Microsoft and continues to support the idea of a tie-up between the two companies to create a stronger rival against Google.

"We intend to support the Icahn slate, but sincerely … Read more

This post was updated at 9:30 a.m. PDT with Microsoft's comment and portions of Icahn's letter.

Billionaire investor Carl Icahn is leaning on such high-profile tech names as Mark Cuban in his effort to unseat Yahoo's current board at its annual shareholders meeting and to pave the way for a Microsoft-Yahoo merger.

Icahn, in formally announcing on Thursday his 10-member proxy slate to run against Yahoo's current board, lists Cuban, founder of Broadcast.com, owner of the Dallas Mavericks, and chairman of HDNet, as one of his dissident directors. Ironically, Cuban sold Broadcast.com to Yahoo … Read more

Billionaire shareholder activist Carl Icahn on Thursday formally announced that he is launching a proxy fight and has formed a 10-member slate in an effort to unseat Yahoo's current board at the company's annual shareholders meeting on July 3.

Icahn, who stated he has acquired roughly 59 million shares of Yahoo, has also sought antitrust clearance from the Federal Trade Commission to acquire up to another $2.5 billion in Yahoo shares.

Microsoft earlier this month walked away from its multibillion-dollar bid to buy Yahoo when the two companies failed to come to agreement over the purchase price.… Read more

Updated Thursday 1:00 AM PDT with further details of Icahn's past proxy efforts.

Billionaire investor Carl Icahn is planning to wage a proxy fight against Yahoo, in a move that could ultimately kick out Yahoo's entire board, according to a Reuters report.

Icahn has received commitments from at least 12 potential board members to run for some or all of Yahoo's 10 board seats, which are all up for re-election at the company's July 3 annual shareholders meeting, according to Reuters.

Icahn was expected to unveil his plans as early as Wednesday night, according to … Read more

Editors note: This post was updated at 3:27 p.m. PDT to cite a Reuters report that Icahn plans to launch a proxy fight against Yahoo

Billionaire investor Carl Icahn has racked up more wins than losses on the proxy fights he's waged over the past 13 years, according to statistics from FactSet SharkWatch.

And as Icahn moves forward with his plans to launch a proxy fight against Yahoo, according to a Reuters report Wednesday, it may spur the Internet search pioneer to reignite failed merger talks with Microsoft. Microsoft's unsolicited buyout bid for Yahoo broke off … Read more

Yahoo shareholder Eric Jackson announced Tuesday that he's dropping his efforts to launch a proxy fight against the Internet search pioneer, citing cost concerns of going it alone.

Jackson's decision comes as billionaire financier Carl Icahn is weighing a possible proxy fight, according to a CNBC report.

Icahn is said to have begun amassing 50 million shares of Yahoo stock late last week, according to the CNBC report. Shares of Yahoo, which dipped last week after Microsoft pulled its $47.5 billion bid for the Internet search pioneer, climbed 3.4 percent in late morning trading to $26.… Read more

A water fight announcement posted on social-networking site Facebook is being blamed for damaging an award-winning public garden in England.

More than 350 people descended on the Millennium Square garden in Leeds on Monday with water guns and buckets, leaving plants trampled, turf torn up, and water features full of foam and debris, according to a report in The Daily Mail, which included before and after photos of the garden. The centerpiece garden won a bronze medal at the 2004 Chelsea Flower Show, according to the report.

Organizers allegedly called the event a "success," but videos posted on … Read more

Microsoft has released the members of its Yahoo dissident directors slate from their obligation, according to a source familiar with situation, now that the company has withdrawn its $47.5 billion unsolicited buyout bid.

The move is yet another sign Redmond is putting its contentious Yahoo acquisition efforts in the past, but it's unclear whether the software giant will lend any support to other shareholders who may take up the proxy battle.

Yahoo shareholders have until the end of day on May 15 to name an opposition slate to run against the company's board of directors. Yahoo's … Read more