Fierce supporter from the beginning that Yahoo to accept the bid of $ 47.5 billion offer from Microsoft, the financier and investor Carl Icahn said on Friday, 23, that is resigning his seat on the Board from the Site search. Last year, he came to acquire 75.6 million shares of the search site to have a stake in the company of 5.5%. The strategy of the stockholder at the time was to increase his voting power on the board of directors, as with increased participation it could indicate more members to fill seat on board and thus ensure that Microsoft’s proposal could be accepted. That effort failed, but Yahoo eventually signed last July, an agreement in the search with the software giant.

It was sort of resigned, Icahn said he was glad with the result. “I think it’s a great deal, and Yahoo CEO Carol Bartz, and his team did an excellent job under the circumstances,” said Icahn to BusinessWeek, after signing the agreement. “I agree with [Microsoft CEO Steve] Ballmer is a great benefit to Yahoo, which will stay with 88% revenue with search,” he said.

Icahn said that now there is a need for an activist investor in Yahoo’s board, and that’s why he was resigning his seat. In September, it sold 12.7 million shares of Yahoo, but still holds 60 million shares of the company.

Via: CNET.