Icahn might get more support from yahoo investors if he promises a minimum sale price
July 9th, 2008 Leave a comment Visited 22 times, 1 so far today
Icahn might get more support from yahoo investors if he promises a minimum sale price
Legg Mason portfolio manager Bill Miller has said in a report that billionaire investor Carl Icahn is likely to find more support from Yahoo Investors if he promises not to sell the company below a certain price.
Legg Mason Capital Management is one of the biggest investors in Yahoo with around 5.23 percent stake.
Icahn himself owns around 4% of Yahoo stock and he plans to replace the company board and oust Chief Executive Jerry Yang.
He wants the internet media giant to sign up a deal with Microsoft. This might include the sale of their search engine properties.
Microsoft has itself stated that they would be interested in a deal provided the Yahoo board is replaced with Icahn’s men.
Other investors are now obviously looking for a minimum promised share value from Icahn before they support him.
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