NEW YORK (Reuters) - Yahoo Inc on Monday sought to rally shareholder support for its board of directors and management amid a proxy battle with billionaire Carl Icahn, saying the investor had outlined an "ill-defined plan" for the future of the Internet company. Yahoo detailed its rationale for rejecting a $47.5 billion takeover offer from Microsoft Corp and argued that the software maker's negotiating tactics cast doubt on whether it was ever serious about a full acquisition, according to an investor presentation filed with the U.S. Securities and Exchange Commission. Icahn is running a slate of directors to replace Yahoo's board and has called for the removal of Yahoo co-founder and Chief Executive Jerry Yang ahead of the company's annual shareholder meeting on August 1. He has said the company should still offer to sell...
[read full story]
Your Web Site
