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Icahn Has 'No Credible Plan': Yahoo

In response to Carl Icahn’s letter to Yahoo chairman Roy Bostock this morning telling him to offer Yahoo to Microsoft for $34.375 a share, Yahoo issued the following statement:

Leaving aside Mr. Icahn's inaccurate interpretation of our retention plan, we again note that he has no credible plan to operate Yahoo!. We believe that Mr. Icahn's suggestion that we cancel our retention plan would have a destabilizing impact on Yahoo! and would clearly not be in the best interests of our shareholders. Furthermore, his suggestion that we put out a price publicly to see if Microsoft will alter its stated position is ill-advised. As we have stated numerous times publicly and privately, we are open to any transaction including a sale to Microsoft if it is in the best interests of shareholders.



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