Carl Icahn sharpened his attack on Yahoo with a public letter to the company’s board that says “the only way to salvage Yahoo is to merge with Microsoft.”
In the letter, Mr. Icahn reiterated his desire for shareholders to oust the board and chief executive Jerry Yang. He also urged the board to rescind a costly employee retention plan.
Mr. Icahn’s latest ammunition for lashing out at Yahoo comes almost entirely from a recently unsealed complaint that is part of a shareholder lawsuit against Yahoo filed by two Detroit pension plans.
It is now clear that the campaign for the hearts and minds — the votes, really — of Yahoo shareholders has begun in earnest. The annual meeting is scheduled for Aug. 1.
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