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Icahn isn’t done with Yahoo just yet, buys another 6.7 million shares

Posted by Zach Epstein on Nov 27, 2008 3:30 pm 4 comments
Filed in News

Now that the Jerry Yang problem has finally been dealt with, Icahn looks to be gearing up for battle once again. Over the past few days, Billionaire financier Carl Icahn has been buying up more of Yahoo and likely gearing up for another shot at plugging the dam. Icahn’s recent pick ups where made at bargain prices of course, compared to his initial investments. At just under $10, Icahn paid over 50% less than he did during his last buying round where he scooped up a much more substantial 69 million shares. This time around he only bought an additional 6.7 million shares but the odds are fairly good that he isn’t done quite yet. Despite Microsoft CEO Steve Ballmer’s recent statement that the company was no longer interested in acquisition talks with Yahoo, Icahn is likely getting ready to make some major moves that will hopefully help bring Microsoft back to the table. Icahn now owns approximately 76 million shares of Yahoo, placing his stake around 5.5% with a current value hovering around $800 million - well under half of what his current position cost him.

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4 comment(s) for this post.

  1. On Nov 27, 2008 @ 4:34 pm, mangenius Said:

    lol this guys just trying to average down his share costs

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  2. On Nov 27, 2008 @ 9:09 pm, joe Said:

    SECOND!!!!

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  3. On Nov 27, 2008 @ 11:10 pm, jman Said:

    Smart guy….just like me…I also bought 1K Yahoo shares to add to my portfolio.

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  4. On Nov 28, 2008 @ 9:41 am, Likeabite Said:

    Smart move

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