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Lastly the rift between Yahoo and its billionaire investor Carl Icahn seeks a resolution.
As per the updates, Yahoo has reached an agreement with Icahn and it will make him to stop his efforts to replace its board.
From the times, Yahoo rejected Microsoft’s bid claiming that deal is not good for the company; Icahn was annoyed and was in best efforts to throw the existing board members. He was also trying his best to remove Jerry Yang. As per sources, Icahn believed that removing all the existing board members will help Yahoo to strike a deal with Microsoft. He planned to replace the board at next month's annual meeting and then sell the company to Microsoft.
But now the dispute is over and now as per latest resolution Yahoo's board will now be expanded from nine members to 11, including Mr Icahn and two of his nominees along with eight of the original members.
Reportedly, Icahn will now withdraw his other nominees from the firm's annual meeting on 1 August.
Incidentally, Yahoo has downturned the joint offer of Microsoft and Icahn. Jaya Sinha, ITVoir Network |
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