Just when you thought it was over, the Yahoo Microsoft take-over saga continues. This time there is a new suitor in the mix. It turns out that New York billionaire and private equity mogul Carl Icahn, according to a CNBC report, has been gobbling up Yahoo shares. Yahoo! is ideal for Icahn who specailizes in hunting down poorly run companies ripe for picking. Icahn, who has an estimated net worth of $14.5 billion, did this by gaining minority stakes and representation on the Boards of struggling Blockbuster, Motorola and ImClone.
Icahn, along with many other Yahoo shareholders is furious with Jerry Yang and David Filo of Yahoo for walking away from the table without closing the various deals offerd by Steve Ballmer's Microsoft.
Icahn has revealed that he has spent more than $1 billion snapping up 59
million Yahoo shares and options to give him a 4.3 percent stake in the
Sunnyvale-based company. It looks like Ichan is going to get some payback time with Yahoo's leadership, or lack thereof.
The hedge fund mogul has sought the help of a couple of heavy hitting compadres to try and usher in a change of leadership at Yahoo, including the NBA's Dallas Mavericks owner, Mark Cuban.
Jerry Yang may just be heading back to the medicine cabinet to get some more Tums.