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25 March 2017 23:39 (South Africa)

Icahn resigns as Yahoo director

Microsoft's interest in taking control of Yahoo appears to be over. Microsoft's biggest friend on the Yahoo board, Carl Icahn, resigned from his position on Friday with immediate effect. Icahn is no ordinary businessman. Worth just a shade under $10 billion, he is THE takeover legend in US business. He was one of the now famous “Barbarians at the Gate” taking over RJ Nabisco, as well as TWA, Texaco, Phillips Petroleum, Western Union, Gulf & Western and Viacom, to name but a few. But of late, the ageing (73) raider, failed to succeed in his last three attempts, Motorola, TimeWarner and Yahoo!. He did manage to wring quite a few concessions from the companies, and in Yahoo he even managed to get then CEO Jerry Yang fired; Microsoft and Yahoo now co-operate very closely. But he didn't end-up controlling the companies. Maybe the old lion has lost his killer instinct? 
Read more: The New York Times

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