The latest round in the never-ending saga between Carl Icahn and Marc Andreessen has Andreessen again referring to something Icahn did in the past. This time, he’s taking us back to 2005 when Icahn was chairman of XO’s board and owned over 60% of that company. Then XO sold its wired business to Icahn for $700 million. The carrier used most of the money it received from Icahn to pay off debts and buy back preferred stock—both of which were owned Icahn.
This latest respond from Andreessen is posted, once again, on his firm’s website.
Andreessen accuses Icahn of conflicts of interest
He’s basically comparing that situation to the Skype transactions, which Icahn has been hammering away for some time. He’s been complaining of Andreessen’s purchase of a large chunk of Skype, which Microsoft Corporation (NASDAQ:MSFT) went on to purchase.
This time around, Andreessen’s response to Icahn’s latest complaints was very short. Icahn addressed the eBay Inc (NASDAQ:EBAY) issues in a live interview, along with other topics. The two have been firing public letters back and forth for some time now, and this is one story that doesn’t show any signs of stopping. The entire situation degraded pretty quickly from a boardroom brawl into the equivalent of a schoolyard skirmish.
Icahn publishes Bernstein survey
Earlier this week, Carl Icahn said he had “not yet begun to fight” regarding eBay Inc (NASDAQ:EBAY). He pointed to the results from a survey conducted by Bernstein Research which indicates that shareholders side with him in the public spat. He reported that 55% of those who responded to the poll said the online auction company should change its board members and 43% of them said spinning off PayPal into a separate business is the right thing to do.
Bernstein analysts, however, spun their own survey to make it look like it’s anyone’s game. Indeed, if only a little over half of those who responded agree that eBay’s board members must be changed, then it may not be as much of a landslide victory as Icahn has been painting it as.