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An Icahn-Yahoo Hybrid Board?

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A third option for settling the proxy battle between Carl Icahn and Yahoo has emerged in recent days, as investors have proposed electing a "hybrid board" at the shareholder meeting on August 1st. Shareholder Eric Jackson, of Ironfire Capital, believes that the best course of action is to vote for four of Icahn's selections, while retaining five others from the current board.
Jackson is directly trying to address larger shareholders like Legg Mason and Capital Research Management, who, to this point, have yet to announce their views on the board situation.
At the same time, DealBook reports that some investors are still backing the entire Icahn contingent, as Mark Nelson of Mithras Capital has said, ""We believe a truly independent board is what's needed at Yahoo and not one that has these obviously deep and emotional connections to the company."
Whatever the case may be, the stock has not seen any significant uptick despite the announced alliance with Google last week, signaling investors are not fully satisfied with the current situation.
-- Senior Yacahn correspondent Travis


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