4
The many sieges of Yahoo
From airlines to online
Gary Wilson and Carl Icahn went back a long way. In the late 1980s, when Icahn was embarking on one of the most notorious corporate raids of the era against airline TWA, Wilson was leading a leveraged buyout at one of its rivals, Northwest Airlines. The two men had been on good terms and made deals with one another over the years. Yet, by 2008, they faced each other in very different circumstances.
By this point, Icahn had reinvented himself as the most feared activist hedge fund manager in the world. He was known for combining the ruthlessness of his corporate raider days with a new-found ability to convince large institutional investors to back his campaigns against vulnerable companies. Wilson ...
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