Looks like maybe Adam Smith's invisible hand is about to slap Jerry Yang...
The activist investor is considering beginning a proxy fight at the Internet media company, fewer than two weeks after it rebuffed a takeover offer from Microsoft, a person briefed on the matter told DealBook. Mr. Icahn began stockpiling a large stake in Yahoo, one as large as 50 million shares.
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The move would be reminiscent of his role in orchestrating a deal between Oracle and BEA Systems last year. Then, Mr. Icahn took a position in BEA, an enterprise software maker that rejected Oracle’s advances. After a convoluted series of events, including some strong-arming by Mr. Icahn, BEA finally submitted to an Oracle takeover.
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