Yahoo Defies Icahn, Nominates Nine Existing Directors for July Elections

26 May 2008

SUNNYVALE, California: In an act of defiance directed at interventionist shareholder Carl Icahn and his Texan compadre T Boone Pickens (pictured), Yahoo has nominated nine of its ten current directors for re-election at its annual meeting, now postponed until late July.

Icahn and Pickens, who between them hold twenty million shares in the internet giant (with an option on 49 million more), have publicly stated that their objective is to replace the entire Yahoo board with their own nominees

The billionaire duo, along with other esurient  shareholders, are mightily miffed at being deprived of a dollar deluge after Yahoo's board declined an initial bid and subsequent sweetened offer from Microsoft.

Data sourced from New York Times; additional content by WARC staff