As I expected, there were no fireworks at the Yahoo meeting on August 1. Yahoo shareholders approved the expanded slate of directors. My guess is that they figured that this expanded Board has the best knowledge and mandate to get Yahoo going again after the Microsoft saga. I think the Microsoft saga is mostly over although some words were exchanged over whether or not Microsoft was really seriously interested in taking over Yahoo.
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What Yahoo needs is to deliver on the financial guidance for 2008. It is interesting that Yahoo is now capitalized at less than $20 Billion. At this price, will Yahoo get any new suitors? Only if Carl Icahn can orchestrate a different coalition to boost up the market value and make sure that his investments are not in the red.
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