Icahn and Microsoft move to oust Yahoo’s Board

Hot off the press tonight, it looks as though all hopes for any kind of truce between the triad of Yahoo, Icahn (who owns a 5% share of Yahoo) and Microsoft have been abandoned. Icahn filed the nominating papers to replace the current 9-member Yahoo Board with directors who will approve Microsoft’s bid. Get ready at the OK Corral, because the showdown for that battle is set for August 1st with a shareholder vote. Icahn has accused the current board of being more interested in their own jobs and interests rather than seeing the benefits of Microsoft’s offer for shareholders. Read more