Icahn Names Yahoo Price: $49.5 Billion
The Associated Press is reporting that activist investor Carl Icahn is urging Yahoo to say it’s willing to accept a takeover offer of $49.5 billion—about $2 billion above Microsoft Corp.’s last bid—in hopes of negotiating a compromise deal.
That price works out to $34.375 per share, which is still within what analysts were initially predicting, but much less than the $37 per share that Yahoo was reportedly demanding.
The report said that Icahn’s recommendation marks the first time that he has publicly indicated what price he has in mind, as he tries to force a sale before Yahoo’s annual meeting on August 1.
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