Got some Yahoo YHOO today
By stlplace on Jul 1, 2008 in Stocks
(Update July 7) Microsoft and Carl Icahn appeared to team up and will try to ouster the current board, esp. CEO Jerry Yang. I don’t think the current board and management is toasted because:
1) Two co-founders Jerry Yang, David Falio, along with their friends Softbank, Alibaba have more shares than Carl Icahn and his friends;
2) They will fight for the support for institutional shareholders, such as Legg Mason Bill Miller etc. Some of the institutional shareholders bought the YHOO shares much higher than the price Carl Icahn bought recently. Unless there is a liquidity problem, those “higher cost” YHOO share holders will hold on it and try to get a higher exit price.
(Original) Yahoo (Nasdaq: YHOO) shares are back to pre-Microsoft bid days today. So I went ahead of grab some shares.
The buzz on merger and proxy fight aside, I think the business and the brand of Yahoo worth more than the stock price today. Interestingly Yahoo board and management put up this power point presentation at SEC web site, to persude stock holders not to side with Carl Icahn’s proxy fight.
(Source: business week)
