Icahn vows to oust Yang from Yahoo's board

6/3/2008

Activist investor Carl Icahn doubts Yahoo Inc. seriously considered Microsoft Corp.'s $47.5 billion takeover offer, deepening his determination to oust the Internet pioneer's chief executive, Jerry Yang, and the rest of the company's board.

Icahn lashed out at Yang and the board in a Tuesday interview with The Wall Street Journal. His harsh criticism came after a Delaware judge on Monday unsealed court documents that revealed Yang shrugged off the advice of outside consultants and pushed for an employee severance plan that dramatically drove up the costs of a Microsoft acquisition.

Microsoft withdrew an oral offer of $33 per share last month in a disagreement over price.

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