Icahn wins more support if ensure Yahoo price: Legg

Wed Jul 9, 2008 12:49am BST
 
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SUN VALLEY, IDAHO (Reuters) - Legg Mason Capital Management portfolio manager Bill Miller said on Tuesday Carl Icahn would have more support in his proxy battle against Yahoo Inc (YHOO.O) if he promised not to sell the company for less than $33 a share.

Legg Mason (LM.N) is the third-largest institutional shareholder of Yahoo, with a 5.23 percent stake as of March 31, according to a regulatory filing.

"The difficulty with Icahn is he'd have more shareholder support if he would say he wouldn't sell the company for less than $33," Miller told Reuters when asked if he would back Icahn's board slate for Yahoo.

Miller was speaking on the sidelines of the Allen & Co media and technology conference in Sun Valley, Idaho.

(Reporting by Kenneth Li, editing by Mark Porter)

 

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