Remember when Yahoo haughtily rejected Microsoft’s $31 per share offer for the company as “massively undervalued”? Those were the days.
Yahoo closed at $18.75, it’s lowest level in five years. For those who don’t care to recall, that’s below where it was trading when Microsoft hand-delivered the gift of a lifetime to the battered Board’s door.
New Yahoo board member Carl Icahn bought his 60 million-ish shares for about $25 apiece, which means he’s now down about $400 million (assuming he hasn’t dumped them).
Any bright new turnaround ideas Carl? We poleaxed shareholders are dying to know.
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