Text of Icahn’s Letter to Yahoo Board - New York Times:
"It is irresponsible to hide behind management’s more than overly optimistic financial forecasts. It is unconscionable that you have not allowed your shareholders to choose to accept an offer that represented a 72% premium over Yahoo’s closing price of $19.18 on the day before the initial Microsoft offer. I and many of your shareholders strongly believe that a combination between Yahoo and Microsoft would form a dynamic company"
Does anyone know of anyone writing a case on this? I would like to but don't want to reinvent the wheel.