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| Version 0 | Version 1 |
|---|---|
| Yahoo makes agreement with Icahn | Yahoo makes agreement with Icahn |
| (11 minutes later) | |
| Yahoo has reached an agreement with the activist investor Carl Icahn that will stop him trying to replace its board. | Yahoo has reached an agreement with the activist investor Carl Icahn that will stop him trying to replace its board. |
| Mr Icahn was annoyed that Yahoo had resisted Microsoft's attempts to take it over. | Mr Icahn was annoyed that Yahoo had resisted Microsoft's attempts to take it over. |
| He planned to replace the board at next month's annual meeting and then sell the company to Microsoft. | He planned to replace the board at next month's annual meeting and then sell the company to Microsoft. |
| Yahoo's board of directors will now be expanded from nine members to 11 and Mr Icahn and two of his nominees will get seats on it. | Yahoo's board of directors will now be expanded from nine members to 11 and Mr Icahn and two of his nominees will get seats on it. |
| Mr Icahn, who owns 5% of Yahoo's shares, said that he would now withdraw his other nominees from the firm's annual meeting on 1 August | |
| In a statement, he said that the sale of the company still merited "full consideration". | |
| Microsoft offered $31 a share for Yahoo in February but Yahoo has said it will only consider an offer of at least $33 a share. | |
| On Friday Yahoo's shares closed at $22.45. |