Evsion Lab

Yahoo’s annual meeting isn’t until August 1st, but the company isn’t wasting any time in launching a campaign to keep its board from being replaced by Carl Icahn’s henchmen. The company has sent a letter to shareholders urging them to re-elect the current board of directors. Jerry Yang and Roy Bostock’s main argument:

“Mr. Icahn’s only plan for Yahoo!, if his slate is elected, is to hope that Microsoft — which withdrew its acquisition proposal more than a month ago and has since publicly reaffirmed that it is not now interested in a full acquisition — can be persuaded to come back to the table and agree to acquire our company. But this is not a strategy.

In our opinion, Mr. Icahn and his slate are not the right individuals to guide Yahoo! as a standalone company.”

Of course, Carl Ichan’s sole interest isn’t in selling Yahoo to Microsoft – it’s in selling his tens of millions of shares at a price well above that at which he purchased them. Meanwhile, Yahoo will have to remain on the defensive, convincing shareholders that continuing to execute its own strategy is a more profitable option that yielding to Icahn and/or Microsoft.

The full letter is embedded here:

Mashable Prediction Center: Will Carl Ichan’s proxy fight to replace Yahoo’s Board succeed?

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