What, You Thought The Whole Yahoo/Microsoft Thing Was Over?

from the silly-believer dept

You just knew that the whole Yahoo/Microsoft deal wasn't really over and done with, right? Rumors started spreading yesterday that billionaire investor and professional "shake things up" guy Carl Icahn was going to put forth his own slate for the Yahoo board (after buying up a bunch of shares in the company) which would allow him to create a board that would sell the company off to Microsoft. Those kinds of rumors don't just magically come out of nowhere, so it should come as no surprise that it looks like, indeed, Icahn will be putting forth his own list of potential board members. As plenty of people have noted, this ought to be fun to watch. Dealing with Steve Ballmer is one thing, but taking on Icahn isn't something that many do successfully. Of course, the real question is what does Icahn do with Yahoo should he gain control over the board. Many are assuming that he'll sell it off to Microsoft, which assumes that Microsoft is willing to come back to the table. Either way, it seems like what we witnessed over the last few months was merely Act One. Act Two may be a lot more exciting.

Filed Under: carl icahn, mergers
Companies: microsoft, yahoo

Hey, Icahn, Haven't You Heard Of Playing Hard To Get?

from the blowing-it dept

Despite having publicly pushed BEA to sell itself, Carl Icahn's initial response to Oracle's takeover attempt was to say that the offer was too low at $17 per share. BEA itself responded by counteroffering at $21 per share. However, Oracle stood fast and said that since there didn't appear to be any competition, it saw no reason to raise the bid. It also said that the $17 offer would expire Sunday night. Of course, seeing as it's now Monday, the offer has, indeed, expired. Yet, Carl Icahn isn't happy. He's now demanding that BEA put the $17 offer to a shareholder vote and is threatening to sue over it. Perhaps it's just me, but this feels like one of those situations in a bad movie or TV show where two sides are negotiating, and even though one side has instructed everyone to stand firm and play hard to get, as soon as the other side stands firm itself, one guy in the corner gives in and says "take the deal guys! take the deal!" You can almost hear the sighs of exasperation from BEA's board members muttering under their breath and trying to kick Icahn to stay quiet for a little longer to see if Oracle comes back again with another bid.

Filed Under: acquisitions, carl icahn
Companies: bea, oracle