Ichan: Yahoo board will regret rejecting bid from Microsoft

Yahoo directors made a "grave mistake" in rejecting Microsoft's latest advances, billionaire investor Carl Icahn said as he pressed shareholders to oust the Internet company's board. By Crayton Harrison Yahoo directors made a "grave mistake" in rejecting Microsoft's latest advances, billionaire investor Carl Icahn said as he pressed shareholders to oust the Internet company's board. Yahoo rejected a breakup proposal from Icahn and Microsoft over the weekend, saying it would be "ludicrous" to sell the search business to Microsoft and leave the rest of the company in Icahn's hands. Icahn on Monday accused Yahoo of distorting the terms of the offer, telling investors not to be "fooled." Both sides are preparing ammunition for the Aug. 1 shareholder vote to decide who controls the board. Compromise between Icahn and Chief... [read full story]