Icahn To Yahoo: Microsoft Still Interested In A Major Deal; Can't Negotiate With Current Board

This story was written by Joseph Weisenthal.
Carl Icahn has pulled a new card from the deck in his attempt to win seats on Yahoo's (NSDQ: YHOO) board. In an open letter to Yahoo shareholders, he says he has been in talks with Microsoft (NSDQ: MSFT) CEO Steve Ballmer, and other top execs, and that he is sure Ballmer still wants a major deal with the company. But, he claims, Ballmer will not negotiate with the existing board. His reason: there is too great a risk that Yahoo will be mis-managed between the time a deal is agreed upon and the deal's closing. Says Icahn: "However, Steve made it clear to me that if a new board were elected, he would be interested in discussing a major transaction with Yahoo!, such as either a transaction to purchase the "Search" function with large financial guarantees or, in the alternative, purchasing the whole company." More to come


By Joseph Weisenthal

Comments

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App