Carl Icahn purchases 50 million Yahoo shares, contemplates launching proxy contest
Yahoo might merge with Microsoft whether the CEOs of either company like it or not. Since the merger fell apart last week, corporate raider Carl Icahn has purchased as many as 50 million shares in the company and now he's "leaning toward launching a proxy contest in an effort to push Yahoo back to the negotiating table," a person familiar with the matter told the Wall Street Journal. Microsoft sources say they have not given Icahn assurance that the company will purchase Yahoo, even at a more favorable price. In 2007, Icahn purchased 8.5 percent of BEA Systems, not long before the company first rejected and then agreed to a merger with Oracle.