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Could Microsoft's New Yahoo Plan Backfire?Icahn Friend Says Financier Could Push For Google Deal

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Carl Icahn apparently isn't happy with the latest talks between Microsoft and Yahoo, and it looks like the financier is using proxies to threaten to push Yahoo into Google's arms.
Dane Hamilton at Reuters is reporting that Icahn, who holds 9 million shares and options for 49 million more, could attempt to scuttle a deal between Microsoft and Yahoo if it falls short of a complete merger.
"Microsoft is trying to get the milk without buying the cow, and if you look at Icahn's history, he has never been used that way," a person described as "familiar with the financier's thinking" tells Hamilton. "He does not want to see Yahoo pushed into some joint venture with Microsoft and is not going to be used to push Yahoo into it."
But could Icahn's eagerness to have a deal now be scuttling Microsoft's long-term deal plans? UBS analysts are floating the idea that a more limited partnership deal between Microsoft Yahoo could be a a stepping stone to an acquisition. The idea is that since Yahoo announced its refusal to go all the way with Microsoft when it first proposed the deal, perhaps it might relent after a bit of a courtship.
Microsoft move unlikely to win Icahn favor: source [Reuters]