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Monday, July 21, 2008
Summary box: Yahoo's truce with Icahn
By The Associated Press
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PEACE PLAN: After two months of sniping at each other, Yahoo Inc.'s leadership and activist investor Carl Icahn negotiated a cease-fire that will give Icahn three seats on Yahoo's board, which will expand to 11 directors from the current nine.

YAHOO'S REPRIEVE: The compromise avoids a showdown for control of Yahoo's board that had been scheduled for the Internet company's Aug. 1 annual meeting.

INSIDE PRESSURE: From Yahoo's board, Icahn and his allies will be in a better position to push for a possible sale to Microsoft Corp. If Yahoo remains independent and still struggles, Icahn could renew his call to replace company co-founder Jerry Yang as CEO.
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