Feds Approve Icahn's Yahoo Stock Buys

Activist investor plans additional $2.5B outlay to boost proxy bid
By Nick McMaster,  Newser Staff
Posted May 30, 2008 2:52 PM CDT
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)
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(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).