Yahoo Calls BS!
Anyone following the "Will Microsoft ask Yahoo to get married" drama are already familiar with Carl Icahn, who started a school yard proxy fight over the future of Yahoo.
Today, Yahoo posted an open letter to Carl Icahn:
Yahoo!'s Board of Directors continues to stand ready to enter into negotiations with Microsoft Corporation for an acquisition of Yahoo!. Indeed, as recently as June, Yahoo!'s independent directors and management approached Steve Ballmer about just such a transaction, only to be told that Microsoft was no longer interested even in the price range which they had previously proposed. Now Mr. Ballmer and Mr. Icahn have teamed up in an apparent effort to force Yahoo! into selling to Microsoft its Search business at a price to be determined in a future "negotiation" between Mr. Icahn's directors and Microsoft's management. We feel very strongly that this would not lead to an outcome that would be in the best interests of Yahoo!'s stockholders. If Microsoft and Mr. Ballmer really want to purchase Yahoo!, we again invite them to make a proposal immediately. And if Mr. Icahn has an actual plan for Yahoo! beyond hoping that Microsoft might actually consummate a deal which they have repeatedly walked away from, we would be very interested in hearing it.
I believe that is Yahoo telling Mr. Icahn where he can stick it. While this type of bickering usually weakens a company in the long run, I think it's actually good for Yahoo. The big Y has been stagnant for too long, and this may be what finally gets the passion back for them.



