New York (HedgeCo.Net) – Activist investor Carl Icahn purchased another 6.8 million shares of Yahoo stock last week at a price tag of about $67 million, further boosting his already vast stake in the company to almost 5.5 percent. <\/p>\n
According to a filing with the Securities and Exchange Commission, that stake is equal to 75.6 million shares in the Internet giant, or about $870 million. <\/p>\n
The Corporate Raider has been outspoken about his beliefs that Yahoo should strike a deal with Microsoft Corp. in hopes of better competing with Google. Although no merger talks are currently in the works, some believe Icahn is still pushing for the deal. <\/p>\n
Icahn was also vocal about his desire to dump Jerry Yang, saying that the former Yahoo CEO did everything he could to discourage a deal with Microsoft. Yahoo is currently seeking a replacement for Yang after he stepped down on November 17. Yang had previously rejected a $31-a-share offer by Microsoft earlier this year, prompted Icahn and other board members to question his leadership.<\/p>\n
After news circulated on Friday that Icahn had increased his stake in the struggling company, Yahoo shares rallied almost 9%, up to $11.51 in the shortened trading session. Icahn may be trying to reverse the massive losses he incurred this year, after shares of Yahoo plummeted almost 60 percent. <\/p>\n
Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net<\/p>\n
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" New York (HedgeCo.Net) – Activist investor Carl Icahn purchased another 6.8 million shares of Yahoo stock last week at a price tag of about $67 million, further boosting his already vast stake in the company to almost 5.5 percent. According […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[303,3935,218,851,110,3937,3938,155,20,166,154,995,1520,848,3936,2060],"class_list":["post-9242","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-brokerages","tag-chemical-company","tag-citigroup","tag-conocophillips","tag-due-diligence-service","tag-energetic-campaign","tag-introductory-rates","tag-microsoft-corp","tag-new-marketplace","tag-search-unit","tag-sharkwatch","tag-television-stations","tag-top-hedge-fund-earners","tag-united-airlines","tag-yahoo-ceo","tag-yahoo-shares"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9242"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9242\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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