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Jul 17, 2008 2:49 pm US/Pacific

Yahoo Shareholders Contemplate Sale Of Company

SUNNYVALE, Calif. (AP) ― Yahoo is scrambling to maintain control of its board ahead of an August 1 shareholders meeting that could decide if some or all of the company will be sold to Microsoft.

The Internet search engine sent a letter to shareholders today hammering investor Carl Icahn for his lack of knowledge about the Internet business.

Icahn is a billionaire who owns about 5 percent of Yahoo's shares.

He is Microsoft's partner in the latest acquisition offer.

Yahoo Chairman Roy Bostock and Chief Executive Jerry Yang say Microsoft's moves are stupefying and serve very narrow special interests.

Icahn insists Yahoo's board members are merely trying to keep their jobs and not acting in the interest of the company.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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