Yahoo uses home page to lobby against Icahn

Yahoo has placed a button on its home page that links to a page that lobbies shareholders to vote against Carl Icahn's proposed board of directors.

Yahoo has added a button on its main Web site linking to a page that lobbies shareholders to vote against Carl Icahn's plans for the company, stepping up its rhetoric in the days leading up to its annual meeting.

The page, reached via a button that reads "Your Yahoo! Your Vote," clearly tries to discredit Icahn, who has proposed a new board of directors for Yahoo in hopes of facilitating a deal with Microsoft.

Featured on the page is a chart listing companies that Yahoo says Icahn has been involved with and noting how the stock price of each of the companies has changed since his involvement, dating back to 2004. According to Yahoo, of the 15 companies on the list, all but three have seen their stock prices decline. The companies include struggling concerns such as Motorola and Blockbuster.

In bold type at the very top of the page, Yahoo quotes Icahn from a Wall Street Journal article as saying, "It's hard to understand these technology companies," in an apparent attempt to portray Icahn as unable to make an informed plan regarding a technology company like Yahoo.

The site links to Yahoo press releases, letters to shareholders and information about how shareholders can cast their votes.

Yahoo plans to hold its annual meeting on Aug. 1. Its entire board of directors is up for re-election at that time, as is a new board proposed by Icahn. The activist investor has said that if his board is elected, Microsoft has agreed to consider a transaction that would include buying Yahoo's search business.

On his blog, Icahn has not reacted to the new Yahoo Web page, but to date he has been quite clear about his intentions and how he feels about Yahoo's current leadership. Earlier this week, he issued an open letter to shareholders that said: "Our company is on a precipice and our board seems ready to take the risk of seeing it topple." That letter was written in response to an earlier letter Yahoo sent to shareholders that was critical of Icahn's plans.

Large institutional shareholders are beginning to publicly take sides in the dispute. Legg Mason, which owns 4.4 percent of Yahoo's stock, said on Friday that it plans to back Yahoo's slate of candidates for the board.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?