Saturday, May 17, 2008

Icahn may become known as the bully who saved web democracy

"To the board members of Yahoo, billionaire investor Carl Icahn may seem like the enemy. How else to describe a man who is scooping up shares by the millions, trying to replace the board with his own hand-picked slate and in an open letter called current directors irrational for having 'completely botched' negotiations with Microsoft?
But it's not Yahoo that should consider Carl Icahn the enemy, it's Google.
After all, it was Google that was celebrating last week when the talks broke off between its two biggest rivals, Microsoft and Yahoo. Eric Schmidt, the chief executive of Google, said, 'I'm happy to be crowned winner.' As Yahoo's talks with Microsoft advanced, Google even poisoned the chalice by offering a partnership for search advertising if Yahoo stayed on its own. That allowed Yahoo to drive the asking price beyond Microsoft's comfort level, causing the latter to walk away."

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