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Icahn demands Yahoo scrap employee severance plan
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Information unique to its summary
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Information unique to summary from multiple countries, from articles in English
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Information unique to summary from Canada, from articles in English
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SAN FRANCISCO - Activist investor Carl Icahn escalated his attacks on Yahoo Inc.'s beleaguered board yesterday in an acerbic letter demanding the directors scrap an employee severance plan that drove up the potential costs of a Microsoft Corp. takeover. (article 5)
The internet company said Mr Icahn's reference to its employee retention plan as a poison pill "could not be further from the truth". (article 8)
If Yahoo's board clings to the severance plan, Icahn plans to follow through on his three-week-old threat to ask shareholders to fire the board at the Sunnyvale-based company's Aug. 1 annual meeting. (article 6)
In the latest effort to placate restless investors, Yahoo Inc. president Sue Decker laid out plans Wednesday for building the company's online advertising operations, and Yahoo announced a slew of new partnerships. (article 11)
Earlier, The Wall Street Journal reported that Icahn would seek to remove Jerry Yang as Yahoo chief executive, citing the company's failure, so far, to reach a merger or partnership deal with Microsoft Corp. (article 3)
Lawyers for Yahoo investors said company officials "gave the back of their hand" to Microsoft's efforts to negotiate a buyout, according to papers unsealed Monday in Delaware Chancery Court. (article 9)
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Activist investor Carl Icahn escalated his attacks on Yahoo Inc.'s beleaguered board Wednesday in an acerbic letter demanding the directors scrap an employee severance plan that drove up the potential costs of a Microsoft Corp. takeover. (article 1)
If Yahoo's board clings to the severance plan, Icahn indicated he will follow through on his three-week-old threat to ask shareholders to fire the board at the Sunnyvale, Calif.-based company's Aug. 1 annual meeting. (article 1)
"One doesn't have to be a rocket scientist to realize there is a simple method" for luring another offer from Microsoft, Icahn wrote in a letter to Yahoo chairman Roy Bostock. (article 1)
" Simply rescind the... severance plan which would free up approximately $2.4 billion and possibly even more, which could be added to the bid. (article 1)
At Microsoft's initial bid of $31 US per share, the severance plan would have imposed an additional $462 million US to $2.1 billion US. (article 1)
At $35 US per share, the additional severance expenses would range from $514 million US to $2.4 billion US, according to Yahoo's documents. (article 1)
Yahoo president Susan Decker told an advertising conference Wednesday that the two sides remain in "active" discussions, though she didn't provide details. (article 1)
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Source articles
- Investor Carl Icahn says Yahoo-Microsoft deal is impossible with current board (L.A. Times, 06/04/2008, 311 words)
- Icahn upset by Yahoo's effort to derail takeover (boston.com, 06/04/2008, 383 words)
- ABC News: Date Set for Yahoo-Icahn Showdown (ABCNews, 06/04/2008, 316 words)
- Yahoo still in deal talks with Microsoft (L.A. Times, 06/05/2008, 403 words)
- Icahn demands Yahoo scrap employee severance plan (boston.com, 06/05/2008, 523 words)
- Icahn tells Yahoo board to scrap severance plan (seattletimes.nwsource.com, 06/04/2008, 1022 words)
- Icahn demands Yahoo scrap severance plan (cbc.ca, 06/04/2008, 570 words)
- Yahoo rejects ‘poison pill’ barb (ft.com, 06/05/2008, 462 words)
- $40-a-share bid to Yahoo revealed (seattletimes.nwsource.com, 06/03/2008, 645 words)
- Microsoft news and features (seattletimes.nwsource.com, 06/04/2008, 252 words)
- As Icahn grumbles, Yahoo sets plans for ad growth (sfgate.com, 06/04/2008, 559 words)
- Live Search conference invitation (seattletimes.nwsource.com, 06/04/2008, 525 words)
- Microsoft, HP will be search partners (seattletimes.nwsource.com, 06/02/2008, 544 words)
- YANK YANG: ICAHN (NY Post, 06/04/2008, 439 words)
- Motorola Agrees to Back Icahn's Board Nominees (Washington Post, 06/03/2008, 396 words)
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Source articles
- Icahn demands Yahoo scrap severance plan (cbc.ca, 06/04/2008, 570 words)
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Story keywords
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Yahoo, Microsoft, Icahn, Yang, severance |
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blaster@cs.columbia.edu
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