FTC Smiles At IcahnBy: Doug Caverly - May 30, 2008
In the never-ending Yahoo-Microsoft mess, we might be getting somewhere; Carl Icahn has received a wave from the FTC. The billionaire can buy even more shares of Yahoo’s stock and push his proxy fight forward.
"The FTC, which routinely looks at large stock purchases, said the moves were approved in a listing that it puts out several times a week," reports Reuters. These moves have yet to happen, of course – this would be a rather different story if they had – but a notable hurdle has effectively been cleared.
Now, everyone appears to be stuck in a state of anticipation. Investors have kept both Yahoo’s stock fairly steady since the FTC news broke. For once, Yahoo and Jerry Yang have failed to issue any sort of formal letter or press release. Ditto for Microsoft and Steve Ballmer.
Icahn, for his part, hasn’t said anything, either. Icahn’s previous statements on the subject of Yahoo haven’t been worded in a subtle manner, however, so anyone seeking action isn’t likely to be kept waiting long.
Come Monday morning, count on Carl Icahn’s stockbroker having his cell phone fully charged.