Word: icahn
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...watch the protracted spectacle of a company under siege, with its daily skirmishes and who's up/who's down scoreboard. Carl Icahn, the perpetual barbarian at the gate, launched a proxy fight. Can he and the shareholders vanquish Yahoo's board, opening the doors to the Microsoft hordes? We'll see August...
...That's why it's so desperate to come to terms - any terms - with Yahoo. The software giant went back to Yahoo yesterday to suggest a joint venture that would give Microsoft a position in Yahoo's search business. We're supposed to believe that Yahoo - thanks to Carl Icahn's proxy battle to replace Yahoo's board - is feeling the heat. But it's Microsoft that has everything to lose here. The barbarians are at the gates, and Gates (as in Bill) has gone off to serve humanity. Without a search strategy that works - and with Yahoo potentially linking...
...want a friend, buy a dog. Those words are most often attributed to the corporate raider Carl Icahn in the mid-1980s and were later immortalized by the character Gordon Gekko in the film Wall Street. But given today's hostile environment for even conservative investments like munis and mortgages, you too may be muttering the phrase--right...
...Steers, the firm's co-CEO, won't shy from speaking up when he feels a takeout isn't fair. "Oh, absolutely," he said. "Our fiduciary obligation is to maximize the returns and the valuation for our investors." Carl Icahn more recently suffered a similar predicament when shareholders rebelled against his offer for auto-parts maker Lear Corp., forcing him to cough up more cash. And several PE financings have flopped because investors balked at the lenient loan terms...
...been a busy few weeks for Carl Icahn, the billionaire financier who gained fame--some would say notoriety--in the 1980s by taking over TWA and agitating for change at the likes of Texaco and RJR Nabisco. While juggling his bids to get on the board of mobile-phone manufacturer Motorola and to buy car-parts maker Lear, Icahn, 71, took a break to talk with TIME's Barbara Kiviat about imperial CEOs, movies by mail and the one thing no one ever gets about...