Yahoo, Icahn Trade More Letters

<a href="http://online.wsj.com/article/SB121276003649951795.html?mod=googlenews_wsj">The Wall Street Journal</a>, <a href="http://www.theregister.co.uk/2008/06/05/yahoo_fires_back_icahn"> The Register</a>

Jim Manico, OWASP Global Board Member

June 6, 2008

1 Min Read

In yet another letter sent to Yahoo chairman Roy Bostock, investor Carl Icahn has accused Yahoo CEO Jerry Yang and the Yahoo board of creating and activating a James Bond-like "self-destructive doomsday machine."Icahn, who is waging a proxy fight with the search company, said Yahoo should publicly offer to sell itself to Microsoft for $34.375 a share; if that proved unsuccessful, Yahoo should then pursue a deal with Google, he said. In his letter, Icahn also spoke out against Yahoo's "poison pill" severance plan, "which would free up approximately $2.4 billion and possibly even more which, could be added to the bid," he wrote.

For its part, Yahoo said Icahn's letter "grossy misrepresents and manipulates the facts" and that he has done nothing in the way of coming up with any plan of his own. That "causes one to wonder what exactly would happen to our Company if you and your nominees were to take control of Yahoo!," the letter states.The Wall Street Journal, The Register

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About the Author(s)

Jim Manico

OWASP Global Board Member

Jim Manico is a Global Board Member for the OWASP foundation where he helps drive the strategic vision for the organization. OWASP's mission is to make software security visible, so that individuals and organizations worldwide can make informed decisions about true software security risks. OWASP's AppSecUSA<https://2015.appsecusa.org/c/> conferences represent the nonprofit's largest outreach efforts to advance its mission of spreading security knowledge, for more information and to register, see here<https://2015.appsecusa.org/c/?page_id=534>. Jim is also the founder of Manicode Security where he trains software developers on secure coding and security engineering. He has a 18 year history building software as a developer and architect. Jim is a frequent speaker on secure software practices and is a member of the JavaOne rockstar speaker community. He is the author of Iron-Clad Java: Building Secure Web Applications<http://www.amazon.com/Iron-Clad-Java-Building-Secure-Applications/dp/0071835881> from McGraw-Hill and founder of Brakeman Pro. Investor/Advisor for Signal Sciences.

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