Valleywag
Right after Microsoft withdrew its offer, Yahoo shares dropped to $20 and Carl Icahn snapped up 15 million shares. The next day, while Yahoo traded at $24 to $25, Icahn purchased another 15 million. He bought another 29 million or as Yahoo shares hovered around $25 to $26 per share. Icahn purchased the shares using options, so it wasn't obvious right away that a raid was in progress. Prices jumped $2, immediately putting Icahn in the black by at least $120 million. (Photo by AP/ho)
Carl Icahn has already made $120 million from Microsoft-Yahoo, and you haven't
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12:00 PM on Tue May 20 2008
By Nicholas Carlson
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2 comments
Comments
Something tells me Icahn is looking for more than an 8% return. Investments in AAPL or RIMM would have been safer and more profitable.
120 million in less than 2 weeks? I'll take it.
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