The fallout from Microsoft's failed takeover bid of Yahoo looks set to continue. Yahoo chairman Roy Boystock has accused Carl Icahn of 'manipulating the facts' after the billionaire investor's claims that the internet company 'sabotaged' the £24.4bn deal offered by Microsoft.
Yahoo's statement came as a response to Icahn's stinging criticism of the company's board of directors contained in a letter yesterday sent to the Internet giant yesterday. Icahn accused the Yahoo board of 'sabotaging' Microsoft's $33 per share offer as well as introducing an unrealistic and expensive employee severance plan which priced Microsoft out of the deal.
Bostock hit back by claiming that Icahn's letter manipulates the facts and refuted the claim that Yahoo's board was hostile to the deal with Microsoft. With Icahn looking to oust the current board of directors at Yahoo and install his own man it's looking like the company's AGM in August is going to turn into a pitched battle for the control of the company.