Oil man T. Boone Pickens has joined Icahn in the fight to force Yahoo to accept the Microsoft takeover bid, according to the SF Chronicle.
"Billionaire investor activist Carl Icahn has gained the support of new backers in his boardroom coup plot against Yahoo Inc., including the legendary corporate takeover artist T. Boone Pickens.
The alliance bolsters Icahn's effort to replace Yahoo's directors with his own slate at the company's annual shareholder meeting on July 3. But it remains unclear whether he has enough votes to succeed."
Also joining the fight is Third Point, a hedge fund who recently purchased 5 million shares according to Reuters. Together with Icahn and Pickens, that makes 74 million shares of Yahoo's 1.38 Billion outstanding, or roughly 5%.
Comments
Hi Chris,
It'll be interesting to see what happens to yahoo. I've heard alot about it in e-IBD.
How's the new job going? Seems like your really up on the current high-tech news.
I'll be watching this story.
Mike
Very Interesting mate. I think EA won't share any details of its Scrabble game, but if it has some nifty features, it could grab some market share. But the question remains..
regards,
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