Alpha Males Gang Up on Jerry Yang and Yahoo!

Jerry Yang’s golf game should be much improved by this time next year; the list of bullies getting ready to push him around is getting longer by the hour.

Can he possibly prevail in the face of superior firepower?

Paulson & Co., the New York hedge- fund manager run by John Paulson, owned 50 million Yahoo! Inc. shares as of March 31, according to a filing today with the U.S. Securities and Exchange Commission.

Billionaire investor Carl Icahn today threatened to seek control of Yahoo’s board if the Internet company doesn’t revive takeover talks with Redmond, Washington-based Microsoft Corp. over its failed $47.5 billion bid. Icahn disclosed that he owns the equivalent of 59 million shares, or 4.3 percent. John Paulson was paid an estimated $3.7 billion, the most in the hedge-fund industry, according to Institutional Investor’s Alpha magazine. The firm, which oversees about $33 billion, made money betting on the collapse of subprime mortgages in 2007. Bloomberg

Carl Icahn is far from infallible, as his recent foray with WCI Communities shows. But getting Paulson, who is sporting some awfully deep pockets, on board with his program certainly helps. Add Mark Cuban into the mix with Gordon Crawford, and even Bill Miller might end up smiling soon.

Update: Yahoo! Responds

Paulson Holds 50 Million Yahoo Shares, Filing Says
Bloomberg
----------------------------------------------------------------------------------------------------------
The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Position

Comments:

<< Back to main