The billionaire investor Carl Icahn has launched a battle to topple the Yahoo board and replace its 10 members with his own slate of directors.
My Icahn said in a letter to Yahoo that it was clear the board had acted "irrationally" in its dealings with Microsoft, which tried to buy it.
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Mr Icahn now wants to buy an addiitonal $2.5bn worth of Yahoo shares.
The manoeuvre follows much anger and criticism over Yahoo's decision, led by co-founder and chief executive Jerry Yang, to turn down Microsoft's $47.5bn (Ј24.4bn) offer earlier this month to buy the company.
Yahoo had wanted Microsoft to increase its bid of $33 a share to $37.
Microsoft has already said that - despite rumour of it possibly making another move later in the year - talks with Yahoo are over.
Instead it has pledged to go it alone in trying to establish a presence in the world of search.
Mr Icahn has reportedly spent more than $1bn to buy about 50 million Yahoo shares - a 3.6% stake - allowing him to increase the pressure on Yahoo's board.
(BBC)
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