Icahn says Yahoo-Google ad deal has merit

NEW YORK, June 15 (Reuters) - Billionare financier Carl Icahn, who launched a proxy battle in May to replace the board of Yahoo Inc (YHOO.O) in the wake of its failed deal to be acquired by Microsoft Corp (MSFT.O), said on Sunday the subsequent deal Yahoo forged with Google (GOOG.O) "might have some merit."

"While the Google deal is not the same as an offer of $34.375 per share for Yahoo, I am continuing to study it, and it might have some merit," Icahn told Reuters in his first public comments since Yahoo disclosed the Google ad-sharing deal on Thursday.

Icahn declined to comment on whether he would continue to press his proxy battle to replace the board of Yahoo in light of the fact that the company has done a deal with Google.

(Reporting by Dane Hamilton, Editing by Jacqueline Wong)