Icahn's Going for It: Launches Proxy Fight Against Yahoo

So corporate raider Carl Icahn will indeed launch a proxy fight against Yahoo and its board, according to Reuters and the Journal. No details at this point except that a slate of 12 directors might be announced tonight, a day before the deadline Yahoo set. For now, here’s more on the implications from my blog post yesterday.

But the big question remains: What in this move will prod Microsoft, which declined to launch a proxy fight for fear of driving more talent out of Yahoo or driving Yahoo into the arms of Google or another partner distasteful to Microsoft, to get back in the game?

UPDATE: Here’s the full story, updated this morning with the news that Icahn is indeed going ahead and nominating his own slate of directors. And here’s Icahn’s letter to Yahoo Chairman Roy Bostock.

Before it's here, it's on the Bloomberg Terminal.