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Feds Approve Icahn's Yahoo Stock Buys

Posted May 30, 08 2:52 PM CDT in Technology,  Business 

(Newser) – The Federal Trade Commission gave Carl Icahn approval to purchase additional chunks of Yahoo stock, part of the activist investor's plan to gain control of the company's board and perhaps force a sale, MarketWatch reports. Icahn already owns 59 million Yahoo shares and options and is reportedly seeking 93 million more (a $2.5 billion value).

 

Sources MarketWatch, TheStreet

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Billionaire financier Carl Icahn, right, and his wife, Gail, arrive at the Motorola annual meeting in Chicago in this May 7, 2007 file photo.   (AP Photo/Charles Rex Arbogast, File)
Financier Carl Icahn poses in New York in this Monday, Oct. 30, 1995 file photo.   (AP Photo/Ed Bailey, file)
Striking Yahoo janitors and supporters hold signs during a rally in front of Yahoo headquarters in Sunnyvale, Calif., Tuesday, May 20, 2008.   (AP Photo/Paul Sakuma)
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Microsoft  • Yahoo  • Carl Icahn  • shareholders  • proxy battle  • billionaire  • investor


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