Yahoo! calls Parlay to Icahn

We like you, we like you not. We like you, we like you not. It seems to have been a veritable rollercoaster ride for the past weeks as offers were tossed back and forth about as easily as not so cleverly veiled insults between Yahoo! and billionaire investor Carl Icahn. But it seems as though it may have finally come to some sort of resolution before the August 1 board meeting, as Yahoo! offered Icahn a minority position on the board (he and two other hand-picked candidates will join) in exchange for his agreement to pull back with his “toss the idiots” ideology, and back the rest of the existing board in the August 1 shareholder’s vote. So, it just may be a “keep your enemies close” move.

This kind of unexpected move did occur after influential mutual fund manager Bill Miller of Legg Mason said Friday that he and the 4.4 percent stake he controls would be backing the Yahoo board in the proxy battle.