Daily Debrief: Icahn's plans for Yahoo Video
Daily Debrief: Icahn's plans for Yahoo Video Transcript
[ Music ] ^M00:00:03
>> I'm Charlie Cooper [phonetic].
>> Charlie Cooper: This is the CNET News.com daily debrief. It's been all quiet on the Microsoft, Yahoo front for too long. No more, Carl Icahn [phonetic] is back in it. And among other thing's he's calling for Jerry and his hoo [assumed spelling]. To discuss this, we have www.news.com Dawn Kawamoto. Dawn, Icahn told the Wall Street Journal, interesting comment, quote, you might have to get rid of Jerry and part of the board to bring Microsoft back to the table. Why does he think that, what's his angle, what's going on?
>> Dawn Kawamoto: He wants to do whatever he can to get Yahoo shareholders to side with him on this proxy fight. He has enough of a challenge without Microsoft publicly stating it's coming back with an offer. So that in itself is going to be a tough go for him to get his people elected. So this recent thing with the severance plan that Yahoo had will be a little bit more fodder [assumed spelling] he can work with.
>> And the severance plan is connected, we learned about that yesterday, as part of a lawsuit that was filed against Yahoo, turns out that some of the people involved in helping Yahoo put together that plan actually thought that it was nuts, quote, unquote. And Icahn is using that to his advantage in pressing for a change of slate [assumed spelling].
>> Question. Is there any reason to believe that Sue Decker, who's the number two exec at Yahoo might be more amendable to a deal? Earlier today she was at a conference, where she said, yes, we still are talking to Microsoft.
>> They have been talking to Microsoft for quite a well in fact...
>> Yes, they have.
>> And it's going on and on. But anyways, you know, I think that the company is obviously a very amendable, some type of an arrangement. There's a lot of pressure on their stock, as we saw that, you know, after Microsoft withdrew it's offer, the stock kind of tanked, and in a sense kind of harbored [assumed spelling], you know, in the mid range there, hoping [inaudible] see either a buyout or something a little bit more meaningful.
>> And the next stop would be August 1, the annual shareholders meeting takes place, and we can expect...
>> Between now...
>> And August 1st, if you're an investor, you're going to be [inaudible] with Yahoo [inaudible] proxies telling you to ignore Icahn's, [inaudible] advisors [assumed spelling] of Icahn's, sending his proxies to you all, and saying ignore Yahoo's. So between now there's likely going to be more mudslinging, you can expect between now and August 1st, and a lot more paper being exchanged between the two.
>> It sounds like the Democratic Primaries. We've been speaking with www.news.com Dawn Kawamoto.
>> I'm Charlie Cooper. ^M00:02:33 [ Music ]
He pressed for months to replace Yahoo's entire board, but now activist investor Carl Icahn is willing to settle for a few seats at the table. CNET News' Dawn Kawamoto and Charles Cooper debate what this means for the future of the company and any possible deal with Microsoft.
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