Icahn Doing the Happy Dance in Yahoo! Boardroom?

What happens when Carl Icahn doesn’t get his way? Dunno. The billionaire activist investor finally has secured the Yahoo! (YHOO) board seat he sought for two months, after Yahoo! rebuffed repeated takeover attempts by Microsoft Corp. (Analysts speculate the chances of a Microsoft-Yahoo! deal have now flown the coop, by the way.) Icahn also landed two additional board seats for his buddies. Yahoo! CEO Jerry Yang remains on the board. That ought to make for some interesting fireworks, especially given Yang’s recent comments calling Icahn a “corporate agitator” who takes a “short-term approach” to investments. Yang’s now saying he’s looking forward to working with the new board members. Funny how the war of words changes when the power shifts hands.

San Jose Mercury News: Yahoo settles with Icahn to avert control battle

Wired News: Yahoo Gives Carl Icahn +2 Invite: Your Table is Ready

Reuters: Yahoo and Icahn settle; Microsoft deal seen adrift