Updated: What’s a week without Carl Icahn making more noise on the Microshoo front? Yet another letter has been sent the way of Yahoo chairman Roy Bostock by the activist investor. This time Icahn is talking share price.

The number Icahn is now officially willing to see Microsoft give Yahoo to finally force control of the company out of the hands which maintain its present course is a magic $34.375.

Icahn’s prose this morning is not without its strong language. He opens quite plainly with this:

“Dear Roy:

While you may take issue with the content of my letter, I take issue with your oversight of Yahoo! Again, I stand by my characterization of your ‘poison pill’ severance plan and I find it humorous to see you attempt to defend it.

Roy, it is you who ‘misrepresents and misstates the details’ of the plan. Much like the rhetoric in many well known political campaigns, you keep repeating misstatements in the hopes that by repeating misstatements enough times it will convince your shareholders that these misstatements are valid. For example, you repeated, ‘the plan was fully disclosed at the time of its adoption and should be no surprise to anyone at this point.’ This is simply not true. The egregious magnitude of the dollar amount cost of the plan was never fully disclosed, nor was the email from your compensation advisor calling the plan ‘nuts.’ …”

Suffice it to say Icahn isn’t backing down from his original request that Yahoo return to the topic of a complete sale to Microsoft. Which, if I may say so myself, makes the man seem more and more the sort of fellow reminiscent of a stubborn village elder ranting continuously, unaware of the fact that the rest of the citizenry has come to accept that the situation has “changed,” and that the original plan has been scrapped.

Icahn finishes his latest to-heck-with-niceties spiel with this outro:

“…In my opinion, Microsoft does not believe you will ever sell the entire company on a friendly basis. So why don’t you stop dancing around the subject and publicly offer to sell the company to Microsoft for $34.375 per share and promise to cooperate completely?

Why are you still giving hope to Microsoft that there is a possible “alternative deal”? As long as there is the possibility of an “alternative deal,” isn’t it obvious that Microsoft will not make a bid for the whole company?”

Does Icahn’s volleys with the Yahoo board complicate any potential or pending deals with Microsoft? Probably not. He’s certainly infused himself as a vociferous piece within the larger narrative, but I’d take the man’s lectures of what should and shouldn’t be in the all-but-stalled Microshoo saga to be little more than spicy garnish at this point. Something to entertain and provoke Yahoo’s heads to speak a little more publicly about their strategy at the corporate and industrial levels.

Update: In his letter, Icahn did also toss in an option for a Google deal, albeit with the requirement that a window be left open to a Microsoft acquisition, should one be proferred by Redmond once more. He said:

“Fifth, to the extent Microsoft does not want to make a proposal, I will ask our new board do a deal on search with Google, but only if it contains termination provisions that would in no way impede a subsequent acquisition by Microsoft.”

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Related Articles at Mashable! - The Social Networking Blog:

The Microsoft-Yahoo Dream/Nightmare Lives On: Billionaire Icahn Makes a Move
More Love Notes: Yahoo Responds to Icahn’s Master Plan
Icahn Wants Yang Fired, Microsoft Chuckles Evilly
Yahoo To Icahn: Let’s Not Talk Numbers Out Here
Pushed By Icahn, Yahoo Jumps Back Into Ad Deal With Google?
Icahn Announces Plans to Seize Yahoo Board with Help from Mark Cuban
Yahoo Shareholders Claim Company Is Concealing Critical Documents

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