In a recent letter to Yahoo (YHOO) from the investor Icahn, Icahn states, “…if Microsoft is still willing to purchase our company and thereby create a true competitor for Google”.
What the heck is wrong with you man? You got too much money and now you are greedy for more but Microsoft won’t help Yahoo become a competitor to Google. This is a proven fact and everyone knows Microsoft is the worst company ever, they have practically killed their credibility with their blue death screens.
Our prediction is that Icahn will take money and run after the Microsoft-Yahoo acquisition. Correct me wrong if that’s not your goal, Icahn.
Stop trying to be greedy and think “business”. Your anger will not solve any problems or get you a new hummer.
What do we say when a billionaire tries forcing his way?
Go get a life Icahn. If I were you, I’d be playing golf right now, not complaining that I made $50 million less this year.
However, despite your actions to date, there is still some possibility that you can resuscitate a Microsoft offer for the company. The board can rescind the “severance plan” that is the largest impediment to a Microsoft deal. You currently can do this because Microsoft withdrew their bid 30 days ago. It is time for you to stop misleading your shareholders with respect to Microsoft. It has been reported today that when asked to talk about the Microsoft bid, Sue Decker indicated that Microsoft made an offer which Yahoo’s board didn’t feel was at an attractive enough price. However, one doesn’t have to be a rocket scientist to realize there is a simple method to possibly achieve a higher price. Simply rescind the poison pill “severance plan”, which would free up approximately $2.4 billion and possibly even more which could be added to the bid. It is also time to admit to your shareholders that the severance plan was not done for your employees (who you conveniently neglected to inform that Microsoft had earmarked $1.5 billion in retention incentives for), but rather was done simply as an entrenchment device and to impede a Microsoft bid. If you are not completely disingenuous in your protestations concerning doing “the right thing” for shareholders, you should rescind the severance plan expeditiously and determine if Microsoft is still willing to purchase our company and thereby create a true competitor for Google. I can only hope that you will finally do what is in the “best interests of the shareholders.”
Tags: 50 million, Acquisition, anger, billionaire, credibility, google, hummer, impediment, microsoft deal, playing golf, poison pill, retention incentives, rocket scientist, s board, severance plan, shareholders, sue decker, true competitor, what the heck, yhoo