Investor Carl Icahn, who ran a heated proxy battle to unseat the Yahoo board and oust its chief executive, said he will not be attending the Internet company's annual meeting Friday.

A few days after the Yahoo-Google deal was finalized, Bilionnaire Carl Icahn commented a rather unexpected remark especially coming from somebody who was opposing Yahoo’s decision not to except the Microsoft bid. What’s even worst, that someone has even waged a proxy battle to overthrow the current Yahoo board.

The corporate raider has a new Yahoo! board waiting in the wings.

Carl Icahn, the billionaire investor and activist shareholder, is considering a proxy fight for seats on the Yahoo board in hopes of pushing the company to restart talks to sell itself to Microsoft.

Carl Icahn, the billionaire investor and activist shareholder, is considering a proxy fight for seats on the Yahoo board in hopes of pushing the company to restart talks to sell itself to Microsoft.

Microsoft's next move in its takeover attempt of Yahoo is imminent -- perhaps even today -- the Wall Street Journal reports. Options are the usual suspects, it says: try to pack the Yahoo board or appeal directly to shareholders.

Microsoft Corp will authorize a proxy battle for Yahoo Inc this week to convince the Web company's shareholders to agree on a takeover deal that the Yahoo board so far has rejected, the New York Times' DealBook blog said on Tuesday.

A New York Post report paints a picture of a divided Yahoo board, split between a group of realists that see few options and a few Jerry Yang "loyalists" emotionally holding onto the idea of an independent Yahoo .

The Yahoo board has decided to reject Microsoft's unsolicited $44.6 billion cash-and-stock buyout bid, a source close to the discussions said, setting the stage for what could be a prolonged takeover battle between the two tech companies.