Carl C. Icahn backed down over the weekend and worked out an agreement with Yahoo to join Yahoo’s board, along with two more people on his slate, which had been set to go to shareholders for a vote on Friday.

Yahoo Inc will appoint activist investor Carl Icahn and two members of his slate of directors to the company's board, settling a proxy battle ahead of its August 1 annual shareholders meeting.

One of Yahoo's major investors has pledged support for the company's board of directors.

Yahoo Inc.'s board won the support of a major shareholder on Friday, providing a much-needed boost to the Web portal as it tries to fend off an attempted shakeup by investor activist Carl Icahn. Legg Mason Inc.'s Capital Management unit, which controls 4.4...

Yahoo Inc's second largest institutional shareholder Legg Mason Capital Management said on Friday it will back Yahoo's board, dealing a blow to a billionaire investor Carl Icahn's efforts to get a rival board slate elected.

Large Yahoo investor Legg Mason will back Yahoo's board in a proxy fight with Carl Icahn.

SAN FRANCISCO -- Apparently abandoning hopes for a truce with Yahoo Inc., investor Carl Icahn sharpened his focus on replacing the Internet company's board Monday after his attempt to negotiate a deal with Microsoft Corp. was angrily rejected.

Microsoft and Carl Icahn fired back at Yahoo as the corporate raider continues a quest to overthrow the struggling Internet firm's board and form an alliance with the software giant.

Yahoo said Saturday it has rejected a "ludicrous" deal with Microsoft orchestrated by corporate raider Carl Icahn, who is bent on overthrowing the struggling Internet search pioneer's board.

Yahoo's board angrily rejects a joint offer from Microsoft and the investor Carl Icahn, describing it as "ludicrous".