Icahn vs. Yahoo Proxy Battle

May 22nd, 2008
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Mr. Icahn currently has a 4.3% stake in yahoo along with many supporters. Third Point LLC, the activist hedge-fund firm run by Daniel Loeb, strongly supports Mr. Icahn's proxy slate and has bought more than four million shares in Yahoo since March 31, although the firm's investments remain below 10 million shares. Paulson & Co. firm hold 50 million Yahoo shares, or a 3.7% stake, and also support Mr. Icahn's slate. The most recent supporter is Texas billionaire T. Boone Pickens who bought 10 million shares of Yahoo, or a roughly 0.75% stake and stated that he too was in support of Mr. Icahn. However even with all of these players supporting the nominations for a new board it is unclear whether or not they will have enough sway to pass the new board. Especially in light of the fact that cofounders Jerry Yang and David Filo have a 10% combined stake and Capital World Investors division of Capital Research & Management Co., holds roughly a 10% stake. It is said that some investors are wary of backing Mr. Icahn because there is currently no offer from Microsoft on the table.
For Detailed Investor Profiles on these Investors, click below:
Icahn Associates (Carl Icahn)
Paulson & Co.
Third Point Management Company
BP Capital Management
Icahn Associates (Carl Icahn)
Related People: Alex Szewczyk; Alexander J. Denner; Alexander J. Denner; Andrew Hoine; Brett Icahn; Brett Icahn; Carl Icahn; Carl Icahn; Daniel Loeb; James L. Carruthers*; John Paulson; Keith A. Meister*; Keith A. Meister*; Mena Gerowin*; Mike Barr; Munib Islam; Robert L. Stillwell; Robert Schwartz; Ronald D. Bassett; Sheru Chowdhry; Stuart Merzer; T. Boone Pickens; Tim Lash
Related Entities: BP Capital Commodity Fund.; BP Capital Equity Fund; High River Limited Partnership; High River Limited Partnership; Icahn Partners; Icahn Partners; Icahn & Co Inc; Icahn & Co Inc; Icahn Associates; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Fund Ltd; Icahn Partners LP; Icahn Partners LP; Paulson Advantage Master Ltd; Paulson Advantage Plus Master Ltd; Paulson Real Estate Recovery Fund; Paulson Recovery Fund; PCI; TBP Investments Management, LLC; Third Point LLC; Third Point Opportunities Master Fund LP; Third Point Resources LP; Third Point Ultra Master Fund LP; Third Point Ventures


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