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Proxy battle pits new Yahoo CEO against hedge fund

Reuters – Less than three months into the job as Yahoo Inc’s chief executive, Scott Thompson faces a proxy showdown with hedge fund Third Point that will determine whether he or a slate of dissident directors nominated by the hedge fund’s founder, Dan Loeb, gets to chart the company’s course.

“Thompson has got to make his case. And now he has to do it persuasively because there’s another guy who is going to make his case persuasively,” said Lawrence Haverty, a fund manager with GAMCO Investors, which owns Yahoo shares.

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