From Silicon Alley Insider: The next move in the Yahoo-Microsoft-Icahn saga is Carl Icahn’s. As Yahoo (YHOO) wisely pointed out in its rebuff letter, there’s no bid for Yahoo on the table right now, so it’s hard to accuse Yahoo’s board of doing anything worse than blowing the original negotiations.
The truth, of course, is that Icahn doesn’t actually want to get Yahoo’s board fired. What he wants to do is force the board to sell the company to Microsoft (MSFT) for something north of, say, $31 a share (preferably well north). Icahn might actually proceed with trying to get the board fired, but only as a last resort: What he’s focused on right now is what happens over the next few weeks…
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