Icahn Lowers Stake In Yahoo! (YHOO), Says Sale Does Not Reflect Long-Term Views

In an amended 13D filing on Yahoo! (Nasdaq: YHOO), Carl Icahn showed he lowered his stake in the company to 4.48%, or 62,858,572 shares. Icahn sold 12.7 million shares over the past few sessions:

In the filing, Icahn stated "The Reporting Persons determined to dispose of Shares that were sold in order to provide a more desired balance in their portfolios relating to tech stocks, especially in view of the fact that the Issuer's "window" for sales by officers and directors would be closing after August 31, 2009. The sales in no way were intended to reflect the Reporting Persons' long term view of the Issuer, since the Reporting Persons are optimistic about its long term prospects. The Reporting Persons continue to believe in the wisdom of the Microsoft-Yahoo search transaction and fully support the performance of the Issuer’s CEO, Carol Bartz."

Icahn's sales:
8/27: (810,793) shares at $14.9237 (High River)
8/27 (2,246,684) shares at $14.9237 (Icahn Master)
8/27 (996,486) shares at $14.9237 (Icahn Partners)
8/28: (1,710,558) shares at $14.8837 (High River)
8/28 (3,775,760) shares at $14.8837 (Icahn Master)
8/28 (3,066,471) sharse at $14.8837 (Icahn Partners)
8/31: (19,960) shares at $14.7488 (High River)
8/31 (44,058) shares at $14.7488 (Icahn Master)
8/31 (35,782) shares at $14.7488 (Icahn Partners)

You May Also Be Interested In

• Mavis acquires Pep Boys from Icahn Enterprises for $700M