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How I Spent My Weekend

July 23, 2008
by Carl Icahn
Chairman, Icahn Enterprises

Carl Icahn

Proxy fights are very expensive and time-consuming. Unlike political elections, where change is often seen, it is unfortunately extremely difficult to take control of a company. By the end of last week, I realized that although many large shareholders supported me and my slate for Yahoo’s board, they were nervous about having a complete change of control. From prior proxy contest experience, I have discovered that a minority position on the board can be also quite effective.

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