In a letter sent to Yahoo Inc. shareholders Monday, Icahn said he has little doubt that a new board would immediately start negotiations with Microsoft Corp. to sell the entire company and move "expeditiously" to replace Jerry Yang with a new chief executive.
Microsoft later confirmed it is prepared to enter discussions immediately after Yahoo's August shareholder meeting if a new board is elected.
Icahn and Microsoft said it would be premature to discuss price.
Microsoft withdrew a $47.5 billion bid to buy Yahoo in early May.
