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.
Icahn isn’t done with Yahoo just yet, buys another 6.7 million shares
Updated Dec 19th, 2018 6:09PM EST
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Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
