Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

A Member of the Law Professor Blogs Network

Thursday, June 5, 2008

Yahoo Responds to Icahn's Letter

Roy Bostock, chairman of Yahoo, responded to Carl Icahn's letter and took issue with Icahn's characterization of the employee severance plan as a poison pill.  Rather, the plan "is intended to help us preserve and enhance    shareholder value by allowing Yahoo! to continue to attract and retain the industry's best talent, and to allow employees to stay focused on implementing Yahoo!'s business strategy."  In responding to Icahn's assertion that the board "sabotaged" the Microsoft offer, Bostock stated that the Yahoo board engaged in discussions focused on maximizing shareholder value until Microsoft walked away.  He also criticized Icahn for relying on unsubstantiated assertions contained in documents filed in a shareholders' derivative suit that was recently unsealed.

http://lawprofessors.typepad.com/securities/2008/06/yahoo-responds.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00e552d180738834

Listed below are links to weblogs that reference Yahoo Responds to Icahn's Letter:

Comments

Post a comment