Icahn spews green ink at Yahoo!

Enough with the letters Carl, get yourself a penpal

By John Oates • Get more from this author

Posted in Financial News, 9th June 2008 15:27 GMT

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Carl Icahn has written an open letter in reply to Yahoo!'s latest press release on his attempted hostile takeover of the company.

And it looks a bit like one of our "Flame of the Week" emails . Or like a dipsomaniac shouting at the bins in a neglected alleyway.

The letter, addressed to Yahoo!'s chairman Roy Bostock, begins by wondering if Yahoo had even read his last missive. It accuses the company of: "repeating misstatements in the hope it will convince its shareholders that these misstatements are valid."

The increasingly petulant Icahn then asks: "Ironically, while you keep inquiring about my plans, it is interesting to note that Yahoo!'s board has been busy reaping great compensation benefits." Why is that ironic?

Then Icahn asks why these directors are so well-paid before reminding us: "Remember the old adage - those who live in glass houses should not throw stones." Which seems a bit ~~odd~~ ironic for the man who wants one of these highly-paid jobs.

Icahn then returns to the only actually concrete plan part of his cunning plan - getting rid of Jerry Yang.

The letter says: "It is extremely important to note that Google hired a great operator as a CEO who helped to transform the Company into a giant at the expense of Yahoo!" Nice words for Eric Schmidt of course, but not very enlightening as to what Icahn actually wants Yahoo! to be.

The full letter is available here. ®

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