Carl Icahn slashes Yahoo stake
By Nicole Kobie,
Investor Carl Icahn has slashed the number of shares he holds in Yahoo, months after leaving the web firm's board.
According to a filing statement, he had sold off most of his remaining stake in Yahoo at the end of the last quarter. At the end of the year, Icahn's investment firm held just under 12 million shares, down from 50.28 million in the previous quarter. Icahn has held as many as 75 million.
Icahn was named to the board in August 2008 to help settle a shareholder revolt. A year later, he stepped down, saying: "I don't believe that it is necessary at this time to have an activist on the Board of Yahoo and currently, my attention is focused on other matters."
Over the past two years, he campaigned for Yahoo to accept Microsoft's $40 billion buyout offer, which eventually failed.
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