Yahoo once again delivered another shareholder letter Thursday designed to urge shareholders to vote for its board members at its Aug. 1 annual meeting. Yahoo's message: Billionaire investor Carl Icahn only has short-term interest n the company.
In Yahoo Chairman's Roy Bostock's letter the company outlined the following:
- Icahn's average cost per Yahoo share is under $25 and he just wants to cut any deal he can to recover his money back quickly.
- Icahn is operating from a position of weakness by hopping in bed with Microsoft so quickly.
- Icahn can't make up his mind about what will work for Yahoo. Is it a Google search pact or Microsoft?
We've heard a lot of this before, but the banter between Yahoo and Microsoft-Icahn is expected to heat up. Yahoo argued that both Icahn and Microsoft flip flop and reiterated that it will sell the whole company "for $33 per share or more if Microsoft will negotiate a transaction that delivers certainty of value and certainty of closing."
You can expect Icahn's dear shareholder letter shortly. It might be time for a good JibJab spoof on this issue.