fighting

Billionaire investor Carl Icahn kicked off the week with scathing questions for Yahoo, as his proxy fight heats up with roughly eight weeks to go before Yahoo's annual shareholders meeting.

In the latest salvo, Icahn presses Yahoo to answer his previous questions as to why the Internet search pioneer opted to install an expensive employee severance plan as a retention method, while neglecting to mention to its workers that Microsoft had earmarked $1.5 billion to retain employees, should it have been successful in acquiring Yahoo.

Here is Icahn's letter to Yahoo Chairman Roy Bostock:

Microsoft is practicing the "Golden Rule" when it comes to Yahoo and shareholder activist Carl Icahn.

The software giant, which initially encountered a frustrating round of "radio silence" from Yahoo after announcing its unsolicited buyout bid for the Internet search pioneer back in February, is not treating Icahn in a similar manner, as the activist investor uses his proxy fight to push the two companies together for a merger.

Microsoft CEO Steve Ballmer recently shed a little light on the software giant's relationship with Icahn in an interview with the Washington Post. In that interview, … Read more

As the proxy fight heats up, Yahoo CEO Jerry Yang issued a letter to employees to address the mechanics of a proxy contest and what to expect.

Yang's letter comes as Yahoo and billionaire investor Carl Icahn have exchanged several rounds of proxy fight letters over the past few days. The fevered pitch between the two parties is expected to further accelerate in the coming weeks leading up Yahoo's August 1 annual shareholders' meeting.

Icahn is seeking to unseat Yahoo's board of directors with his own dissident slate, while Yahoo is working to persuade investors to re-elect … Read more

This post was updated at 1:38 p.m. PDT, with Yahoo's closing price.

Making his first public statement on a specific purchase price for Yahoo, billionaire investor Carl Icahn on Friday told the company's chairman to offer up Yahoo to Microsoft for $34.375 a share.

The topic of price, which Icahn was coy about during his interview on CNBC earlier this week, was one of two interesting nuggets in his saber-rattling letter to Yahoo's chairman Roy Bostock. That letter was one of several Icahn has sent to Yahoo since launching his proxy fight.

The second … Read more

This post was updated at 9:59 a.m. PDT with Yahoo's response.

After a one-day lull in the Yahoo-Icahn war of words, billionaire investor Carl Icahn on Friday listed his five-step game plan for the company, should his dissident slate of directors succeed in unseating Yahoo's current board at the August 1 shareholder meeting.

In a letter to Yahoo chairman Roy Bostock, Icahn states:

You asked, "What exactly would happen to our company if you and your nominees were to take control of Yahoo?" I will give you my perspective on that.

First, I would … Read more

Yahoo investors got a taste Wednesday of the Yahoo-Carl Icahn dog fight. Next up--the dog-and-pony show.

Billionaire investor Carl Icahn and Yahoo, embroiled in a proxy fight, will be taking their respective fix-it strategy messages on the investor road show circuit once they file their definitive proxies with the Securities and Exchange Commission. These investor road shows will be crucial, as both parties seek to woo investors to vote for their opposing slate of Yahoo board members.

Yahoo declined to comment on when it will be filing its finalized proxy, and Icahn did not return calls for comment. But proxy … Read more

Billionaire investor Carl Icahn is in a bit of a conundrum.

On Wednesday, in a letter sent to Yahoo's chairman, Icahn called on Yahoo's board of directors to rescind the company's controversial employee severance plans, fearing it was an impediment to a Microsoft buyout deal.

But as reported Tuesday, Icahn's proxy fight is what's keeping the controversial severance plans in play.

Icahn's proxy fight is considered a "potential change in control," which means Yahoo's board can't voluntarily remove the severance plans, attorneys say.

So, what are his options?

A. Give … Read more

Editor's note: Updated on June 4, Wednesday, at 3:06 p.m. PDT with comments from Carl Icahn during an interview on CNBC.

Billionaire investor Carl Icahn, who is waging a proxy fight with Yahoo, sent a letter to Yahoo Chairman Roy Bostock on Wednesday. Here's his letter in its entirety:

Roy Bostock Chairman Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089

Dear Mr. Bostock:

I have long been cynical about the effectiveness of many of the boards and CEOs in this country and as a result the inability of our companies to compete. I have constantly complained … Read more

Updated at 8:09 p.m. PDT with more information on the proxy contest.

Yahoo announced Tuesday it will hold its annual shareholders meeting on August 1, setting the stage for a contentious proxy battle with billionaire shareholder Carl Icahn.

The shareholders meeting will be held at 10 a.m. PDT at The Fairmont hotel in San Jose, Calif.

Yahoo will be asking its shareholders to re-elect its current board of nine directors, while Icahn is challenging the board with his own slate of dissident directors.

Icahn, at the time he filed his preliminary proxy, said he felt the current … Read more