Cramer Predicted Icahn's Yahoo! Play

Not everyone saw it coming -- but Jim Cramer made the call. If you caught Wall Street Confidential on May 6, "Cramer: A Reason to Buy Yahoo!," then you got a heads-up as to what was going to happen.

Billionaire investor Carl Icahn may initiate a proxy fight to oust Yahoo!'s(YHOO Quote) board -- and Jim predicted it.

"These guys don't have control over it if the activists, if the Carl Icahns of the world buy it," Jim said on TheStreet.com TV in reference to Yahoo! cofounders Jerry Yang and David Filo. "I think they will buy it. I think what you're going to have here is a terrific situation where a year from now you're going to get 35, 36 -- or even before then, because this company is going to change hands."

And it stands to possibly change into Carl Ichan's hands. According to various reports, Icahn has bought as much as 50 million shares of Yahoo!. He is reportedly considering waging war for control of its board, following the withdrawal of Microsoft's(MSFT Quote) bid for Yahoo!. Many were angered that a deal failed to result between Microsoft and Yahoo!, when talks between the two fell apart over price.

Cramer: A Reason to Buy Yahoo!

"Now Filo and Yang own less than 10%," Jim said on May 6. "They act as if they own 50% -- or they act as if this is a New York Times, Wall Street Journal situation, with two classes of stock. They are dreaming. There are tons and tons of activist hedge funds right now that are going to put these guys' feet to the fire. They have no idea what they've unleashed."

Apparently, as Jim foresaw, the co-founders unleashed a fury to change the company's current board from activists with the cash to make it happen.

As Jim said in the video, "The shortfall here in the quarter that I expect won't trump the fact that you have guys coming in with big, big money who will make something happen. Filo and Yang do not have the stock to block it."