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Apparently no one told Carl Icahn this was supposed to be a slow news day … the Yahoo director added nearly 7 million shares to his holdings in the company this week at an almost bargain-basement cost of roughly $67 million. According to a filing with the SEC Wednesday, various Icahn entities acquired 3,697,181 shares at $9.7988 per share Monday, 2,704,780 shares at $9.9678 Tuesday, and another 376,843 shares at $9.9988 Wednesday. That brings his total stake in Yahoo to 75.6 million shares. This last batch averaged well below one-third of the $34.75 per share Icahn suggested Microsoft (NSDQ: MSFT) pay for Yahoo back in June.
Icahn agitated his way onto Yahoo’s board in July along with two representatives after he acquired a nearly 5 percent stake. In return, he promised to retain at least 30 million shares and not to disparage Yahoo (NSDQ: YHOO).