Getting close to the end of this chapter?...
Under the discussions now taking place, Microsoft would buy Yahoo's search operations, the Journal said. Another company, such as Time Warner's AOL or News Corp.'s MySpace, would combine with the rest of Yahoo, the newspaper said. News Corp. owns The Wall Street Journal.
Microsoft representatives met with Icahn to encourage him in his proxy battle, the Journal said. The billionaire investor accused Yahoo CEO Jerry Yang and his directors of sabotaging the deal. Yahoo's shareholder meeting is scheduled for Aug. 1.
"It is going to be very, very difficult for that board to retain the support of shareholders," said Gamco Investors Inc. associate portfolio manager Larry Haverty.