Carl Icahn Increases Stake in Yahoo Inc., Adds Nearly 7 Million Shares

Billionaire hedge-fund manager Carl Ichan has added nearly seven million shares to his stake in search engine giant Yahoo Inc. (Nasdaq: YHOO), paying out about $67 million for the shares to bring his total to 75.6 million shares, close to 5.5% of the company.

Icahn snapped up the 6.8 million shares over a three-day period beginning on Monday. He paid an average of $9.92 per share in those transactions; he paid close to $25 per share when he made his initial $1.5 billion investment in Yahoo.

Icahn was at the center of Yahoo news over the summer when he expressed outrage at the company’s inability to forge a deal with Microsoft Inc.(Nasdaq: MSFT). He was extremely critical of CEO and Yahoo co-founder Jerry Yang for failing to reach a buyout agreement and threatened to create a new board of directors.

Yang has since said that he would step down as CEO following the board’s appointment of a successor.

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