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Jun19
Jerry Yang breathes a sigh of relief... For now!

With all the shit that's been pouring all over Yahoo recently, it must be somewhat heartening for Jerry Yang to see a reminder that his current nemesis among stockholders, billionaire back-seat driver Carl Icahn, only rarely gets what he wants. Icahn was beaten back Thursday by the board of biotech outfit Biogen Idec, when his slate of dissident nominees failed to win shareholder support. Holding 4 percent of the stock, Icahn pushed the firm last fall to find a major pharmaceutical company to buy it. When the process didn't generate any bids, Icahn accused the board of designing it to fail, and pressed his proxy fight but didn't get any traction. Mildly heartening for Yang, perhaps, but then again, Icahn now has one fewer distraction as he prepares to put his slate of board nominees up against Yahoo's on Aug 1st.

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