Yahoo has reached a settlement with activist investor Carl Icahn, who will join the Internet company's board.
Yahoo announced on Saturday night that it rejected a joint-buyout proposal that Microsoft and investor activist Carl Icahn offered the night before, which called for a "complex restructuring" and sale of Yahoo's search business to Microsoft.
After taking a one-two punch from investor activist Carl Icahn and Microsoft on Monday, Yahoo CEO Jerry Yang threw a few punches of his own in an interview in The Wall Street Journal on Wednesday.
Investor activist Carl Icahn and Microsoft on Monday asked Yahoo investors to oust Yahoo's board and in its place elect Icahn's dissident slate, potentially paving the way for a purchase of the internet company in its entirety or just its search assets.
Yahoo, under intense pressure, reorganised its upper management on Thursday in a plan designed to improve its products, underlying technology, and operational execution, the company said.
As Microsoft's deadline for Yahoo to accept its takeover bid passes, the tech world is still waiting for information from either company on their wedding plans.
After a resounding "no" on its unsolicited buyout offer for Yahoo, Redmond will either up the ante or ready a one-two punch.
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