Microsoft and Icahn plot Yahoo coup

Microsoft says it is willing to reopen talks to buy all or part of Yahoo - but only if a new Yahoo board is elected.

Microsoft, which broke off talks in early May to buy the Internet company for $47.5 billion, says it would resume discussions immediately if a new board were elected at Yahoo’s 1 August stockholder meeting, providing a a major boost for investor Carl Icahn’s board slate.

The Microsoft statement comes after Icahn, the billionaire financier who holds over 4% of Yahoo, issued his own statement claiming he had “spoken frequently” to Microsoft CEO Steve Ballmer over the past week.

Previously, the two had not spoken.

Source: PC Pro

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