Bloomberg – Daniel Loeb’s New York-based Third Point LLC, has made almost $122 million so far on its stake in Yahoo! Inc. (YHOO) after successfully forcing Chief Executive Officer Scott Thompson to step down.
Loeb, 50, whose hedge fund owns 5.8 percent of the Web portal, has been pushing to shake up its board since September 2011, when he told the company that directors had erred in spurning a takeover bid from Microsoft Corp. Yahoo rose the most in three weeks yesterday following Thompson’s decision to leave, after Loeb flagged discrepancies in the CEO’s resume.
