Carl Icahn Boosts His Stake In Yahoo! (YHOO) By Nearly 7M Shares
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A Form 4 filing from Carl Icahn, after the close Wednesday, showed the activist investor bought 6,778,804 more Yahoo! (Nasdaq: YHOO) shares from 11/24-11/26 at prices from $9.80-$10.00. The recent buying brings his stake in Yahoo! to 75,575,125 shares.
Icahn was added to the Yahoo! Board of Directors back in July after fighting with the company about the bid from Microsoft (Nasdaq: MSFT). Since that time, Microsoft dropped its bid, the online ad market has deteriorated, an ad deal with Google (Nasdaq: GOOG) was terminated, and Yahoo! CEO Jerry Yang stepped down. Since Icahn's settlement with Yahoo!, shares are down 52%.
Icahn has held hope about some type deal with Microsoft, including a possible search-only deal. Microsoft contents talks with Yahoo are "done."
Icahn was added to the Yahoo! Board of Directors back in July after fighting with the company about the bid from Microsoft (Nasdaq: MSFT). Since that time, Microsoft dropped its bid, the online ad market has deteriorated, an ad deal with Google (Nasdaq: GOOG) was terminated, and Yahoo! CEO Jerry Yang stepped down. Since Icahn's settlement with Yahoo!, shares are down 52%.
Icahn has held hope about some type deal with Microsoft, including a possible search-only deal. Microsoft contents talks with Yahoo are "done."
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