YAHOO! Under The Gun
The pressure is rising on Yahoo CEO Jerry Yang to cozy up to Microsoft.
On June 2, a Delaware judge unsealed portions of a shareholder lawsuit revealing details of an expensive severance plan for all Yahoo employees that would be triggered in the event of a takeover. That info spurred Carl Icahn to call for Yang's ouster.
The financier has been fighting to replace Yahoo's board in hopes of spurring Microsoft to renew a takeover bid it withdrew on May 3rd.
Many investors, now including hedge funds hungry for a quick exit, appear to be betting on at least a limited deal centered on Yahoo's search operation.
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On June 2, a Delaware judge unsealed portions of a shareholder lawsuit revealing details of an expensive severance plan for all Yahoo employees that would be triggered in the event of a takeover. That info spurred Carl Icahn to call for Yang's ouster.
The financier has been fighting to replace Yahoo's board in hopes of spurring Microsoft to renew a takeover bid it withdrew on May 3rd.
Many investors, now including hedge funds hungry for a quick exit, appear to be betting on at least a limited deal centered on Yahoo's search operation.
* * * * *
posted by Bob Moser at
4:07 PM
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