Carl Icahn got the go ahead from the Federal Trade Commission to scoop up huge amounts of Yahoo stock. Icahn owns around 10 million Yahoo shares now, and has options to acquire another 49 million. He said he's seeking clearance from the FTC to buy up to $2.5 billion of the stock.
In our not-so-free market, you need the FTC's approval to make stock purchases worth $63 million or more.
In other news, we just noticed that Jerry Yang and Steve Ballmer apparently played golf together last weekend. They may or may not have chatted about a deal but probably not the straight-up acquisition that Icahn wants. Icahn, of course, hates executives who play golf. Is there any chance that Ballmer and Yang arranged the meeting over golf to piss off Icahn?
Icahn gets antitrust go-ahead for Yahoo stock buy [Yahoo--heh]
Posted by guest, May 30, 2008 4:06PM
Always play golf with your competitors who have the same customers you have. Man, you can learn a lot real fast under those conditions. Icahn probably knows that and hates his golfing employees for that reason. How much of Icahn's business is revealed at the "19th Hole" to buddies/competitors of his efforts?