Even though Carl Icahn has said the Yahoo-Google deal might have merit, former search technologist Mark Nelson has announced his support for Icahn's proxy board, according to Barron's. Nelson founded search technology company Ovid Technologies and sold it to Wolters Kluwer for $200 million in 1998.
Today, Nelson is a partner at Mithras Capital, which holds 1.7 million shares of Yahoo.
"Despite my emotional commitment to the company, and despite 10 years of enviable growth and profitability, in 1998 the Board and I came to the conclusion that selling the company was the best way to fulfill our fiduciary responsibility to maximize value for all shareholders."
The letter continued on with much of the same arguments we've heard from Icahn in his letters, including references to the poison pill.
Earlier, investor Eric Jackson announced his support for a combo board, that would keep 5 of Yahoo's current board and bring in 4 from Icahn's board. Jackson leads a shareholder group with 3.2 million shares.
Former Search Technologist and Yahoo Investor Mark Nelson Supports Icahn
Introducing... ClickZ Live!
SES Conference & Expo has merged with ClickZ to bring you ClickZ Live! The new global conference series takes on the identity of the industry's premier digital marketing publication, ClickZ.com, and kicks off March 31-April 3 in New York City. Join the industry's leading tech-advertisers in the advertising capital of the world! Find out more ››
*Super Saver Rates expire Jan 24.