Carl Icahn leads new charge in battle for Yahoo

SAN FRANCISCO (MarketWatch) — Tech trading was highlighted Thursday by billionaire investor Carl Icahn putting forth a 10-member slate of directors for Yahoo Inc. . Icahn said in a statement that during the last 10 days he has acquired 59 million shares of Yahoo stock and has applied for federal clearance to by $2.5 billion worth of the company’s shares. Icahn said the current Yahoo board “acted irrationally and lost the faith of shareholders” when it turned down Microsoft Corp.’s $33 a share offer for the company. Among the proposed board members are Icahn, Dallas Mavericks owner Mark Cuban and Adam Dell, a businessman and brother of Dell Inc. Chief Executive Michael Dell. Yahoo shares rose 47 cents to $27.60 in early trading, while the tech-heavy Nasdaq Composite Index fell 2.7 points to 2,493.
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