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Message: Yahoo shareholder may pull support: report

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Yahoo shareholder may pull support: report

posted on Jul 28, 08 04:32AM

Reuters) - Yahoo Inc's (NasdaqGS:YHOO - News) second-largest investor, Gordon Crawford of Capital Research and Management, may yank support for the company's top executives at Friday's annual meeting, the New York Post said citing sources close to the fund manager.

The Internet company may have settled a proxy battle with activist investor Carl Icahn, but Crawford is furious with Chairman Roy Bostock and Chief Executive Jerry Yang and is considering withholding votes for them, sources told the Post.

Crawford's decision isn't surprising given his feelings that Yahoo's management and board blew talks with Microsoft (NasdaqGS:MSFT - News), the Post said.

Capital Research and Management owns a 6.5 percent stake in Yahoo. The move will be largely symbolic - shareholders won't be able to vote out board members because of the now-settled proxy contest with Icahn - but it sends yet another signal to the market that Yahoo shareholders are not happy, the paper said.

The company could not be reached immediately for a comment.

(Reporting by Purwa Naveen Raman in Bangalore; Editing by Erica Billingham)

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I have a feeling we are no where near the end of the rumor mill however Friday's AGM = T minus 4