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Icahn now on Yahoo board

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The latest in the Yahoo saga is that billionaire investor Carl Icahn has accepted a seat on the board, along with two of his own allies, in return for dropping his bid to oust the whole board at next week's shareholders' meeting.

Icahn controls 5% of Yahoo's shares, which he bought up in an attempt to force a sale of the company to Microsoft.
In his position on the board, Icahn will now by privy to future talks and could use his position to influence decision-making.
Microsoft has renewed its bid for Yahoo, or parts of the company.
Today (Tuesday 22 July), Yahoo will announce its latest results.