LOS ANGELES, May 15 (Xinhua) -- Voicing disappointment over Yahoo. Inc.'s refusal of Microsoft takeover bid, billionaire investor Carl Icahn on Thursday launched a bid for control of the internet giant.

    Icahn said he took the move because Yahoo's board "completely botched" takeover talks with Microsoft Corp.

The Time Square Yahoo sign is seen in New York April 7, 2008. Inc.'s refusal of Microsoft takeover bid, billionaire investor Carl Icahn on Thursday launched a bid for control of the internet giant. (Xinhua/Reuters File Photo) Photo Gallery>>>

    In a letter to Yahoo Chairman Roy Bostock, Icahn said he had snapped up 59 million Yahoo shares and was seeking permission from the Securities and Exchange Commission to amass up to 2.5 billion dollars in Yahoo's stock. Yahoo's market value was nearly 38 billion dollars this morning.

    "It is unconscionable that you have not allowed your shareholders to choose to accept an offer that represented a 72-percent premium over Yahoo's closing price of 19.18 dollars on the day before the initial Microsoft offer," Icahn wrote.

    "I and many of your shareholders strongly believe that a combination between Yahoo and Microsoft would form a dynamic company and more importantly would be a force strong enough to compete with Google on the Internet."

    He added that he hoped Yahoo would listen to its shareholders and "move expeditiously" to close a deal with Microsoft, which earlier this month withdrew a 47.5-billion-dollar offer for Yahoo after they failed to agree on a price.

    Sources close to Icahn said the billionaire had nominated a 12-people slate to unseat Yahoo's board of directors, a move that surprised some major shareholders, who had been told by Icahn's allies just a day before that he intended to put forward only a few names to serve as agitators.

    The candidates include Icahn, former Viacom Inc. Chief Executive Frank Biondi Jr., Dallas Mavericks owner Mark Cuban and New Line Cinema co-chairman Robert Shaye. Yahoo didn't immediately comment. Its annual meeting is scheduled for July 3.

    Yahoo shares gained 50 cents to 27.64 dollars in early trading on Thursday. They had tumbled to 24.37 dollars the first trading day after Microsoft walked away.  

Yang says he may sell Yahoo if price is right

    BEIJING, May 7 -- Yahoo Inc Chief Executive Officer Jerry Yang, criticized by some investors for rejecting Microsoft Corp's $47.5 billion takeover bid, said he'll consider selling to the software company or another bidder for the right price.

    Yang will continue a strategy to boost Internet advertising sales and is speaking with other companies about ways to increase Yahoo's value. While Yahoo isn't for sale, the company would listen "should somebody else come back someday and want to buy the company," he said after the stock sank 15 percent. Full story  

Yahoo chief: They chose to walk away 

    BEIJING, May 6 (Xinhuanet) -- Jerry Yang, Yahoo's co-founder and chief executive, revealed Monday conflicting approaches in his company towards Microsoft's surprise bid to buy his company and the three-month business saga that ensued.

    Yang said he was open to selling Yahoo to Microsoft all along, but that Steven A. Ballmer, Microsoft’s chief executive, and his dealmakers ultimately declined to negotiate and withdrew their proposal on Saturday with little explanation. Full story

Yahoo shares tumble on scrapped bid

    BEIJING, May 6 -- Yahoo Inc, the Web company that spent three months fighting a takeover by Microsoft Corp, fell 21 percent in early trading after the software maker scrapped the bid because executives failed to agree on the price.

    Citigroup Inc and ThinkPanmure LLC analysts cut their ratings on Yahoo's stock to "sell" after Microsoft withdrew its bid. Microsoft said this weekend it walked away when Yahoo demanded 37 U.S. dollars a share after the 44.6 billion dollars bid was raised by about 5 billion dollars to 33 dolalrs a share. Full story

    BEIJING, May 5 (Xinhuanet) -- By rejecting Microsoft's 47.5 billion U.S. dollar offer, Yahoo Inc. Chief Executive Jerry Yang will get a chance to prove his plan to right the Internet giant is working -- if disgruntled shareholders don't throw him to the wolves first.

    Many analysts believe Yahoo's stock price, which had advance almost 50 percent since Microsoft's initial offer, will give up most, if not all, of that gain, leaving the Sunnyvale-based company's market value around 30 billion dollars. Full story

Yahoo: what's next after Microsoft withdraws?

    BEIJING, May 5 (Xinhuanet) -- Yahoo Inc faced growing pressure on Sunday to find an alternative strategy to Microsoft Corp's 47.5 billion U.S. dollar takeover offer after the software maker withdrew over a disagreement on price.

    Yahoo shares could fall by more than 30 percent on Monday over the breakdown of talks, but that drop could be softened if Wall Street believes Yahoo Chief Executive Jerry Yang has another strategy up his sleeve, analysts said. Full story

Microsoft withdraws offer for Yahoo

    LOS ANGELES, May 3 (Xinhua) -- Microsoft announced Saturday it is withdrawing its offer for Yahoo in a surprise that stunned many industry analysts and Wall Street investors.

    In a letter to Yahoo Chief Executive Jerry Yang, Microsoft CEO Steve Ballmer said his company decided to give up its acquisition efforts after the negotiations between the two companies got bogged down. Full story