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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

June 4, 2008 at 3:25 PM

Icahn on Microsoft-Yahoo merger: Within six months, hopefully mid-30s

A few tidbits from a transcript of Carl Icahn’s interview on CNBC’s “Fast Money” this afternoon, provided (in all caps) by the network:

On whether the deal’s going to happen:

SOMETIMES YOU HAVE TO HAVE PATIENCE, BUT I BELIEVE IF IT’S NOT THIS MONTH, IT’LL BE SIX MONTHS FROM NOW.

Icahn obviously doesn’t want a partnership or partial deal, he wants Ballmer to take the whole enchilada:

I CERTAINLY DON’T WANT TO SEE AN ALTERNATIVE DEAL WITH MICROSOFT THEY’RE TALKING ABOUT, WHICH WOULD BE SOME HIGH-BRED (I’m guessing that’s transcription oddity, presume he said “some hybrid”) WHICH WOULD DEVALUE NO MATTER WHAT THEY SAY AT A LOT LESS THAN THE 33 OR 34 THAT THEY WERE TALKING ABOUT.AND, OF COURSE, THAT WOULD ENTRENCH THE BOARD AND WOULD ENTRENCH JERRY YANG BUT WOULD BE TERRIBLE FOR SHAREHOLDERS.

SO, I DO BELIEVE THE FOLLOWING — THAT THIS COMPANY, YAHOO!, IS A VERY STRATEGIC AND IMPORTANT ACQUISITION FOR MICROSOFT, AND EVENTUALLY I HAVE TO BELIEVE THAT THAT’S GOING TO HAPPEN.”

Asked about the minimum price Icahn wants to see:

YOU KNOW, I’M NOT GOING TO NEGOTIATE ON TELEVISION.BUT I THINK THAT THEY PRETTY WELL TALKED ABOUT THE PRICE THAT — YOU KNOW, WHERE IT WOULD END UP, YOU KNOW.

Meaning that?

“SOMEWHERE IN THE MID-30s AREA, YOU KNOW.”

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