Search Engine Optimization News Blog

Carl Icahn is stepping up to the plate, as CEO Jerry Yang of Yahoo steps down. The mogul and corporate raider secured a hefty chunk of Yahoo stock in preparation for a hostile takeover of the board this summer, but was pre-empted by the failed deal with Microsoft and the signing of a deal with Google - which has also since fallen through.

Now a member of the newly expanded board, Icahn just shelled out for an additional 7 million shares in the company, surprising many stockholders as the market value of Yahoo has been in a steady downward spiral since their refusal of the Microsoft bid - a bid Icahn strongly advocated taking.

Now that bid is definitely off of the table, and Yahoo is down over $20 a share from where they were when talks with MSN were still going on. What is Icahn’s strategy? Investing more in the company seems to indicate he has a vision for the future others aren’t privy to.

Meanwhile, more Yahoo brass continues to exit, stage left - Yahoo’s European Head Toby Coppel is bowing out, to be replaced by the SVP of Europe’s Advertiser & Publisher Group Rich Riley.

Investors are also showing signs of panic - Eric Jackson, another strong supporter of the Microsoft offer, had led 146 shareholders with 3.2 million shares in a campaign for the sale - now those investors have sold their shares and left Yahoo behind as a sad lesson learned.

It remains to be seen if Icahn has an ace up his sleeve to save a foundering Yahoo - he has pulled of miracles in the past, so if anyone can do it he is probably the man for the job. Yahoo definitely needs something to pull them out of their slump and put them back in the game.

****breaking news**** As this was being posted, headlines broke that Jonathon Miller, former AOL CEO is attempting to raise funds to buy out Yahoo. Miller’s name had come up last summer as a possible lead man for Yahoo if the Microsoft aqcuisition had gone through, and was only blockerd from taking a seat on the board next to his buddy Icahn by a non compete agreement.

Now rumors have surfaced that Miller is attempting to raise a $30 billion stake to buy Yahoo out at $20 - $22 per share - lower than the initial MSN bid but well above the current trading average.

This may shed new light on Icahns buy!