Now that his proxy fight against Yahoo management is over, Carl Icahn says he’s going to become a much more prolific blogger. Next post: lobbing a brick back at the Wall Street Journal over a piece suggesting Yahoo “may come to regret its move” to bring Icahn on the board. Blogs Icahn:
As some of you may have noted there was an article on the front page of the Wall Street Journal today. Within the next few days – I intend to answer it on the blog.
In his latest post, “How I Spent My Weekend,” he defends his truce with Jerry & Co. (reached at 5 a.m. Monday morning) and decision to take three board seats rather than press for control of the entire company.
By the end of last week, I realised that although many large shareholders supported me and my slate for the board, they were nervous about having a complete change of control. From prior proxy contest experience, I have discovered that a minority position on the board can be also quite effective.
More upside: Now that it’s all over, Icahn says he’ll have a lot more time to express his views: “Certain constraints concerning my views about corporate governance have been removed and I intend to communicate more frequently in the near future,” he wrote.
Now, we’ve heard Icahn threaten to blog before, but this time we’re inclined to take him a little more seriously. He’s only got three votes on the Yahoo board, after all, which means he still needs a bully pulpit to complain, and an unfiltered blog is as good as any.
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Yahoo, Icahn Settle: Carl Gets 3 Seats, Agrees To Shut Up
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