CEO Jerry Yang accused Microsoft of trying to destabilize Yahoo without intending to complete a deal, according to the Wall St. Journal. Yang also fired back at billionaire investor Carl Icahn and his selection of a new Yahoo board.
What ticked Yang off? Microsoft said publicly it would restart buyout talks and partial acquisition discussions if Icahn succeeds at replacing Yahoo’s board of directors in a proxy battle.
“To trust Mr. Icahn and his board is really a bad choice,” Mr. Yang said in an interview with the WSJ.
Of course, Icahn would replace Yang so it’s clear why Jerry wouldn’t trust him.
Yang said Yahoo would look at any deal Microsoft proposed, and he called Microsoft’s apparent unwillingness to negotiate further “baffling.” Microsoft and Yahoo advisors spoke last week, but there are currently no formal conversations between the companies, he said.
Microsoft had no comment on Yang’s remarks. A spokesperson referred to Monday’s statement, which read: “We have concluded that we cannot reach an agreement with them. We confirm, however, that after the shareholder election, Microsoft would be interested in discussing with a new board a major transaction with Yahoo.”