Cofounder of Yahoo Jerry Yang can now get down to business. The Carl Icahn takeover saga is finally over. Icahn joins Yahoo’s board. I guess Carl has a lot of shares but his ‘lame duck’ board seat is a consolation prize for technologies version of “The Price is Right”. He lost. Last week we saw a final knock out blow to Icahn had him down for the count. Now we have peace.
“While I continue to believe that the sale of the whole company or the sale of its search business in the right transaction must be given full consideration, I share the view that Yahoo’s valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to stockholders,” Mr. Icahn said in the statement. “I believe this is a good outcome and that we will have a strong working relationship going forward.”
Finally Yahoo can get down to business and get the legal bull from Wall Street off their back. Expect a fast resolution to a Microsoft deal or other transaction (hmm AOL..). Yahoo has to move on now and get back to competing.