posted on Monday, July 21, 2008 9:29 AM by paul

Icahn Get's a Seat

Yahoo! Announces Settlement with Carl Icahn

Carl Icahn owns 68,786,320 sharies, 4.98% of Yahoo and now he will be appointed to the Board and then two of eleven seats will be filled by the Board.

This agreement will not only allow Yahoo! to put the distraction of the proxy contest behind us, it will allow the Company to continue pursuing its strategy of being the starting point for Internet users and a must buy for advertisers. No other company in the Internet space has our unique combination of global brand, talented employees, innovative technologies and exceptional assets, attributes that will help us take advantage of the large and growing opportunity ahead of us. I look forward to working together with our new colleagues on the Board to make that happen. - Jerry Yang

At the opening bell sharies of MSFT rise in the hope that this insanity is over.

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