Carl Icahn leads the Yahoo! fight.

Mr. Icahn’s interest comes less than two weeks after Microsoft withdrew a $47.5 billion offer for Yahoo after being rebuffed. The deadline for board nominations is Thursday.

Mr. Icahn has told associates that he bought as many as 50 million shares of Yahoo — worth more than $1 billion — in anticipation of pressing for seats on its board. He has also inquired at Microsoft, through various friends, whether he could help bring that company back to the negotiating table, these people said. He has received little encouragement, these people said, because Microsoft has insisted that it has “moved on.” -Stock Article Link

If Carl Icahn bought his shares during the Microsoft bid, then he has all the motivation in the world to find a buyer. Let's hope it's not another Motorola fiasco.