Yahoo! puts off AGM over Microsoft bid issues

Yahoo! has postponed its annual general meeting after moves by billionaire investor Carl Icahn to unseat the internet company’s board over the failed Microsoft deal. The AGM was due to take place on July 3, but has been delayed indefinitely.

Yahoo! has postponed its annual general meeting after moves by billionaire investor Carl Icahn to unseat the internet company’s board over the failed Microsoft deal. The AGM was due to take place on July 3, but has been delayed indefinitely.

The move comes as Icahn, who has been raising his stake in the company since the start of May, received support from fellow billionaire investor T Boone Pickens, who acquired 10m shares in the company earlier this week. The deal brings the number of investors in favour of a deal with Microsoft up to about 20%.

Yahoo! and Microsoft have restarted talks with a view to an alternative to a full acquisition. The internet company rejected Microsoft’s $46.5bn (£23.5bn) bid earlier this month. Icahn says it was “unconscionable” that Yahoo! had not put the decision to shareholders, adding that the offer was a 72% premium to the value of Yahoo! shares before the bid was tabled.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here