Wednesday, May 21, 2008

Icahn Gains New Support in Yahoo Push -

More unhappy news for Yahoo's exec mgmt...

Mr. Pickens in an interview on CNBC Tuesday said he had bought 10 million shares of Yahoo, or a roughly 0.75% stake, after Mr. Icahn launched his proxy effort. "I'll jump in with Carl. He goes in first, I jump in behind him," Mr. Pickens said during the interview. A spokesman for Mr. Pickens declined to comment further. Mr. Icahn couldn't be reached for comment.

Mr. Icahn last week disclosed he had bought 10 million Yahoo shares and acquired options to purchase 49 million more, which together would represent a roughly 4.3% stake in the company. Other Icahn supporters include hedge-fund investor John Paulson, whose Paulson & Co. firm, held 50 million Yahoo shares, or a 3.7% stake, as of the first quarter. Mr. Paulson in a statement last week said he intended to vote for Mr. Icahn's nominees but hoped Microsoft would reach an agreement to buy Yahoo before then.

Icahn Gains New Support in Yahoo Push -

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