July 7 (Bloomberg) -- Billionaire investor Carl Icahn said that Microsoft Corp. Chief Executive Officer Steve Ballmer indicated he might consider a transaction for Yahoo! Inc. if the current board were replaced.

Icahn said in a letter to Yahoo shareholders today that he has ``frequently'' spoken with Ballmer in the past week.

To contact the reporter on this story: Julie Alnwick in New York at jalnwick@bloomberg.net

Last Updated: July 7, 2008 09:03 EDT