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Vincent Padois, head tutor at the Pierre and Marie Curie University who teaches robotics and is babysitting the Paris ICub, makes a demonstration with ICub robot, a ?hybrid embodied cognitive system for a humanoid robot" about 1 metre (3.2 feet) high, at the Pierre and Marie Curie University in Paris September 4, 2009. Six versions of ICub exist in laboratories across Europe, where scientists are painstakingly tweaking its electronic brain to make it capable of learning, just like a human child and hoping it will learn how to adapt its behaviour to changing circumstances, offering new insights into the development of human consciousness. REUTERS/Philippe Wojazer

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    Icahn calls on Microsoft to hold out on Yahoo deal

    SAN FRANCISCO
    Thu Jun 26, 2008 5:49pm EDT
    Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, June 27, 2007. REUTERS/Chip East

    SAN FRANCISCO (Reuters) - Dissident shareholder Carl Icahn renewed pressure on Yahoo Inc to strike a merger deal with Microsoft Corp and replace Chief Executive Jerry Yang in his latest proxy filing on Thursday.

    Technology  |  Stocks  |  Mergers & Acquisitions

    In papers filed with the U.S. Securities & Exchange Commission ahead of a showdown for control of Yahoo at its August 1 shareholder meeting, Icahn said his nine-member alternative slate of directors still seeks a friendly deal with Microsoft.

    However, he called on Microsoft not to consider any alternative transaction short of an outright merger unless it can ensure Yahoo's stock price reaches a level of $33 a share or higher. This was the price Microsoft offered Yahoo in early May which was rebuffed by Yahoo, ending full-out merger talks.

    The shareholder activist also reiterated plans to hire a "talented and experienced CEO" to replace Jerry Yang as CEO and return him to his previous role as "Chief Yahoo" -- executive without portfolio and public cheerleader for the company.

    Yang, who co-founded Yahoo in 1994, was elevated a year ago this month to replace outgoing CEO Terry Semel.

    Icahn says his group beneficially owns 68.8 million shares, or 4.98 percent of Yahoo's outstanding shares.

    (Reporting by Eric Auchard; Editing by Braden Reddall)
    Technology
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