May 15, 2008 / 1:20 PM / 12 years ago

Icahn says he will fight Yahoo on Microsoft

NEW YORK, May 15 (Reuters) - Carl Icahn has launched a proxy battle to force Yahoo Inc YHOO.O to reopen buyout talks with Microsoft Corp (MSFT.O), the billionaire investor said in a letter to the Internet company on Thursday.

Icahn has formed a 10-member rival slate for Yahoo’s board to push the company to accept Microsoft’s bid of $33 per share, or $47.5 billion.

He also disclosed in the letter to Yahoo Chairman Roy Bostock that he had acquired 59 million shares and had sought antitrust clearance from the U.S. Federal Trade Commission to acquire up to about $2.5 billion worth of Yahoo Stock.

“It is clear to me that the board of directors of Yahoo has acted irrationally and lost the faith of shareholders and Microsoft,” Icahn wrote.

(Reporting by Kenneth Li; Editing by Lisa Von Ahn)

((kenneth.li@thomsonreuters.com; +1 646 223 6224; Reuters Messaging: kenneth.li.reuters.com@reuters.net)) Visit blogs.reuters.com/mediafile/ for more coverage at the Reuters MediaFile blog. Keywords: ICAHN YAHOO/

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