Yahoo turns to its enemyMore VideosSUNNYVALE, Calif. (AP) -- Yahoo Inc. is starting to meet with its major shareholders in hopes of fending off activist investor Carl Icahn.Icahn is trying to overthrow Yahoo's board in retaliation for rejecting Microsoft's $47.5 billion takeover bid. Now the company is making its case for keeping its current board and management team.
Yahoo filed a 32-page presentation Monday with the Securities and Exchange Commission to elaborate on its defense of its nine directors, including CEO and co-founder Jerry Yang.
Among other things, Yahoo (YHOO, Fortune 500) questions the sincerity of Microsoft's takeover bid, and defends the value of a planned advertising partnership with Internet search leader Google.
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