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Oh, Good Grief December 19, 2005

Posted by David Card in Media.
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    “Like all shareholders, I am not opposed to Time Warner entering into an AOL transaction that creates long-term value,” the corporate-raider-turned-shareholder-activist (and historical greenmailer, oops, did I say that?)wrote in an open letter to Time Warner’s board. “However, I am deeply concerned that the Time Warner Board may be on the verge of making a disastrous decision concerning an agreement with Google if this agreement would make it more difficult in any way or effectively preclude a merger or other type of transaction with companies such as IAC/InterActive, eBay, Yahoo, or Microsoft etc., etc. …”

    Mr. Icahn, who is representing a group of dissident investors with a less than 3% stake in Time Warner, pointed to a recent report from Goldman Sachs to illustrate that a deal with Google might not be the best option for Time Warner. The report said a deal with eBay Inc. or IAC/InterActive Corp. would be more advantageous to AOL than a deal with Google or Microsoft Corp.’s MSN.

Fer shure, and a deal between Google and Microsoft would rawk!

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