Wednesday, 22 October 2014
Last updated 21 min ago
May 20 2008 | 2:29pm ET
Another hedge fund has thrown its weight behind Carl Icahn’s effort to force Yahoo! Inc. to sell itself to Microsoft.
New York activist shop Third Point has accumulated 5 million Yahoo shares and is backing the billionaire investor’s bid to replace the Sunnyvale, Calif.-based Internet company’s board, Reuters reports. Icahn and his supporters argue that a tie-up with Microsoft is in the best interest of shareholders, and are annoyed that the companies had broken off talks. The two sides said Sunday that they have recommenced negotiations.
Third Point joins fellow New York hedge fund Paulson & Co. in backing Icahn’s bid. Icahn owns a 4.3% stake in Yahoo, Paulson 3.6% and Third Point about 0.36%, though Daniel Loeb’s firm reportedly may double its stake.
Icahn has nominated candidates to fill all 10 of Yahoo’s board seats. The company holds its annual meeting on July 3.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...