Icahn Seeks to Unseat Yahoo's Entire Board

Billionaire investor Carl Icahn Thursday filed a proxy slate to unseat Yahoo Inc.'s board, accusing its directors of acting "irrationally" and setting the stage for what could be a battle for control of the Internet company.

Mr. Icahn's move -- preceded by his purchase of roughly 10 million Yahoo shares and options to acquire 49 million more -- is largely a bet that he can interest Microsoft Corp. in reconsidering its abandoned bid for Yahoo. It isn't clear whether Microsoft is willing to do so or whether Mr. Icahn can win the support of ...