The Yahoo-Microsoft-Icahn battle had a lot of people worked up; related press releases and letters displayed some of the strongest language we’ve seen on-the-clock professionals use. So even though the main fight has been resolved, it should come as no surprise that a major investor may still be upset with the situation.
Gordon Crawford works with Capital Research and Management, and Capital Research and Management owns a 6.5 percent stake in Yahoo. During the original dispute, Crawford indicated he was more likely to support Carl Icahn than Jerry Yang and Roy Bostock.
Gordon Crawford
Now, as reported by the New York Post, Crawford “may yank support for the pair at Friday’s annual meeting, sources close to the fund manager said. . . . The move will be largely symbolic – shareholders won’t be able to vote out board members because of the now-settled proxy contest with Icahn – but it sends yet another signal to the market that Yahoo! shareholders are not happy.”
And the market – which has been pummeling Yahoo over the last six months and is sending the stock down again this morning – seems ready to respond to bad news.
We may not get to see a brawl between Yang and Icahn, then, but August 1st looks to remain an interesting and important day.
