Carl Icahn holds the key to a Microsoft buyout.
The legendary activist investor offers just what these two struggling companies – and their investors – need.
So, Carl Icahn is grabbing headlines this week over his new battle with Yahoo and how Boone Pickens is backing him up now, too. But Icahn has his finger in a lot of pies. He's still in a proxy fight with Biogen Idec where he's trying to get his people on the Board at the upcoming shareholder meeting on June 19th.
With the deadline looming for investors to nominate a competing slate to Yahoo's existing board of directors--and Carl Icahn itching for a boardroom battle of his own for the stumbling internet brand--there are some interesting developments on Yahoo's own recollection of how and why negotiations with Microsoft broke down.
Asian and European markets, as well as U.S. futures, weaker on the AIG news. Dollar stronger. For the moment, the risk aversion trade (long bonds, short financials) is back on. Oil at new high not helping. Also: Circuit City is allowing Blockbuster and Carl Icahn to conduct due diligence.
With a strong quarter expected next week, the shorts are on the run.