Icahn’s Yahoo Takeover
Sunday, June 8th, 2008After the Microsoft/Yahoo showdown that ended in Microsoft walking away from their Yahoo merger, Investor Carl Icahn has made a huge bet that he can purchase enough Yahoo stock to overthrow Yahoo’s board and sell the company to Microsoft while netting himself a huge profit from the stock purchases. Carl Icahn has spent more than $1 billion for his over 4% stake in Yahoo’s stock. Most of Icahn’s stock has been purchased for between $24-$25 a share after the stock dropped when Microsoft walked away from the merger. If he can get control of Yahoo, and broker a deal between it and Microsoft, he has the possibility of profiting from it in the tune of $9-$10 per share he owns.
