Carl Icahn isn't going to give up anytime soon on pushing for a deal to sell off Yahoo to Microsoft. The greedy investor argues that the current board should offer the company to the Redmond giant for $34.375 a share (hard to say how he came up with those digits). Microsoft previously offered up to $33 a share.

Yahoo said in a statement that Icahn's suggestion to cancel their "retention plan" would have a destabilizing impact on Yahoo and would clearly not be in the best interest the company's shareholders.

Jerry Yang, Yahoo's co-founder, said that Microsoft was the one walking away from the deal because it did not want to pay what the Yahoo board thought the company is worth. He also mentioned some regulatory concerns and other issues which hindered a deal going ahead.

So did Yahoo overvaluate itself and Yang and his fellow executives are a pack of fools who threw a great opportunity away? Well, no, Yang knows very well there are estimates, such as the one from JP Morgan, which puts the Yahoo stock up 70 percent in 2009 following a lucrative deal with, let's say, Google. This means that shareholders could get more value than the Microsoft offer, without selling off to the Redmond giant and ruining Yahoo's different corporate culture.

Meanwhile, greedy shareholders such as Carl C. Icahn, the billionaire investor who recently bought 50 million Yahoo! shares, are trying to replace the company's board which supports Yang and his decisions. There were heated exchanges recently between Icahn and Yahoo Chairman Roy Bostock who accused the investor of misrepresenting the circumstances in which the company rejected Microsoft's offer.