Carl Icahn raises his stake in Yahoo

Billionaire investor Carl Icahn invests an additional $67 million into Yahoo

Nov 28, 2008

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In a move likely to fuel speculation over Yahoo Inc.'s search for a new chief executive, activist investor Carl Icahn has bought up close to 7 million additional shares of the Internet company, according to regulatory filings.

Icahn, a billionaire hedge-fund manager who threatened to oust Yahoo's board this summer after it rejected a deal with Microsoft Inc., snapped up about $67 million worth of shares over three days this week, according to a filing with the Securities and Exchange Commission.

Icahn bought 6.8 million shares for an average of $9.92 each in three batches from Monday through Wednesday, bringing his total stake to 75.6 million, or nearly 5.5 percent of the company, according to the filing made Wednesday.

In his original $1.5 billion investment in Yahoo, Icahn paid an average of about $25 dollars per share.

Yahoo's stock rose 93 cents, or 8.8 percent, to $11.51 Friday.

Yahoo is looking for a new chief executive after co-founder Jerry Yang said earlier this month that he will step down as soon as the board finds a successor.

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Posted By: bbwolf2006 @ 05/17/2008 4:18:40 PM

i think YAHOO will be bought by Microsoft in the future not long.
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Posted By: bbwolf2006 @ 05/17/2008 4:17:24 PM

i think YAHOO will be bought by Microsoft in the future not long.
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Posted By: hope-3 @ 05/15/2008 9:42:00 PM

Poor yang such a sentimental fool I guess no one ever told him he was working for the shareholders.Lets see if yang can hold off icahn.

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