proxi

Update 1 p.m. PDT, with more information on the timing of Icahn's definitive proxy and alternatives.

Investor activist Carl Icahn is expected to file his definitive proxy by July 4, signaling whether he will ultimately run a dissident slate of directors to unseat a majority of Yahoo's nine board members, or look to oust just a few, according to sources familiar with the billionaire investor.

Icahn is gearing up to share another round on his "views about Yahoo and its management shortly," according to a posting on his Icahn Report blog Friday.

Icahn, who filed another preliminary proxy just the other day, … Read more

Update 10:32 a.m. PDT: Added more comments from Gates in his interview and a late morning trading price for Yahoo.

Microsoft's Bill Gates, in an NBC interview with Tom Brokaw, said a deal with Yahoo is unlikely, according to a CNBC report Friday.

Yahoo shares fell 2.81 percent to $20.77 in late morning trading, as the broader markets also slumped.

During his interview, Gates said "I don't think that one is likely," in reference to a Microsoft-Yahoo deal. He added, however, that he believes Microsoft CEO Steve Ballmer will find "plenty … Read more

Yahoo is gearing up to hit the road with its investor presentation and it wants to set the record straight, said one source close to the situation.

The Internet company did have substantial negotiations with Microsoft over the software giant's proposal for a partial deal, before the talks broke off several weeks ago, said the source, noting that a characterization by one of the company's investors was incorrect.

"Yahoo did negotiate over the terms...They negotiated over the TAC rate, and Microsoft responded by making improvements to their proposal," said the source, in contrast with earlier … Read more

Did he, or didn't he? Apparently, he didn't.

A report out of Europe cited Kevin Johnson, president of Microsoft's Platforms and Services Division, saying the software giant would be interested in bidding on a Yahoo under new management. But that isn't so, a Microsoft representative told CNET News.com.

Earlier this morning, the Silicon Alley Insider referenced a Bloomberg story that cited a Financial Times Deutschland article, regarding Johnson's alleged comments. Silicon Alley Insider, rightly so, questioned whether something got lost in the English-to-German-to-English translation.

According to a Microsoft representative, Johnson did not suggest such … Read more

In the coming days, Yahoo investors should expect to see shareholder activist Carl Icahn filing the final version of his proxy, indicating to what degree he seeks to control Yahoo's board and keep the door open to Microsoft.

Icahn, who initially launched his proxy fight to push a merger between Yahoo and Microsoft and subsequently saw talks on even a partial search buyout deal fall through, is expected to print and disseminate his definitive proxy materials within the next two weeks, say people familiar with the proxy process.

That document will indicate whether he plans to try to oust … Read more

Updated 1:36 PM PDT, to include a statement from Icahn.

What's on Carl Icahn's mind? He's offered a peek Thursday, with the launch of his long-dormant blog.

The Icahn Report went live with blog postings ranging from "Corporate Democracy is a Myth" to "Absurdity of Corporate Board Elections" to "About CEOs - Anti-Darwinian Metaphor - Survival of the Unfittest," to name a few. The site's debut comes more than five months after the domain name was created.

Icahn outlined his reasons for creating the blog, with this statement:

Update at 8:20 p.m. PDT, with Glass Lewis recommendation on Wilson in the CSX proxy fight

Influential institutional investor advisory service RiskMetrics Group abstained Tuesday from issuing a recommendation on Yahoo director Gary Wilson, in his "other" proxy fight.

Wilson, who is facing a proxy fight against investor activist Carl Icahn in his role as a Yahoo director, is also running as one of five members on a dissident slate against the incumbent 12-member board of railroad company CSX.

CSX is holding its annual shareholders meeting next week on June 25. Yahoo, meanwhile, is scheduled to … Read more

Microsoft announced Tuesday that its longtime board member and former executive Jon Shirley has decided not to run for re-election at the company's annual shareholders meeting.

Shirley, who served as Microsoft's president and chief operating officer for seven years through 1990, is retiring from the board after 25 years. He will remain on the board until the shareholders meeting in November.

"Having turned 70 years old this year, I'm at a point in my life where I want to reduce my professional commitments and allow more time pursuing some of my personal interests," Shirley said … Read more

A Delaware Chancery Court on Monday denied a fast-track schedule to hold a trial on whether to invalidate Yahoo's controversial employee severance plans, prior to the company's annual shareholders meeting on August 1, according to a Reuters report.

Two Detroit pension funds, which had filed a shareholders lawsuit against Yahoo over its handling of the unsolicited buyout bid by Microsoft and subsequent withdrawal, had been seeking to invalidate Yahoo's employees severance plans. In the lawsuit, the shareholders allege the severance plans potentially make any change of control in ownership or board composition a costly venture.

The shareholders … Read more